Social Finance Raises $200M in Series D Funding

SoFiSocial Finance, Inc. (SoFi), a San Francisco, CA-based marketplace lending platform, raised $200m in Series D funding.

The round was led by Third Point Ventures and affiliates of Third Point LLC, with participation from Wellington Management Company LLP, Institutional Venture Partners and existing investors.
Goldman Sachs served as sole placement agent to the company on the financing.

The company intends to use the funds for expansion of its consumer lending products throughout the United States and build out its marketplace with new options for investors.

Led by Mike Cagney, CEO, SoFi provides a marketplace lending platform focused on both federal and private student loans, MBA loans, mortgages, and personal loans, with over $1.75 billion in loans issued.
The company currently has nearly 200 employees and is actively recruiting in several areas (read here). Most recently, it opened a 50+ person office in Healdsburg, California to house some of its sales, servicing and underwriting teams. SoFi, which has offices in Washington, DC, Helena, Montana and Frisco, Texas, also provides services like career advising, access to its member network, and entrepreneurial support.



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