SoFi

SoFi

SoFi or Social Finance is a finance company offering lending and wealth management services.

Provider of an innovative student lending platform intended to start refinancing student loans. The company's platform includes online banking, personal, mortgage and wealth management, enabling students to receive a lower interest rate based on their career experience, monthly income, financial history and education.

SoFi also provides their SoFi Money, a cash management account which works to earn the user 1.60% APY and their SoFi Invest, a mobile application which allows users to trade stocks and ETFs, buy cryptocurrencies, and start automated investing. For all of their services, SoFi works to save on their operating costs through online-only services.

Competitors

SoFi's competitors include Avant, an online platform for credit alternatives to middle income consumers; Lending Club which is an online financial platform that connects lenders with borrowers; LendKey Technologies, an online lending platform that allows users to apply for student, home improvement and auto loans; Earnest, which is an online lending marketplace that offers student loans; LendingTree, an online lending exchange connecting consumers with lenders; CommonBond, which offers students a hybrid repayment for their student loans; Prosper Marketplace, which offers a peer-to-peer loan marketplace; Upstart, which offers personal and education loans; Credible, which offers student loan refinancing for as low as 2.21% APR; Education Loan Finance, which offers variable repayment periods for as low as 2.39% APR; Laurel Road, which offers student and consumer loan options; and GreenNote, which offers students the option of receiving loans from their social network.

Timeline

April 7, 2020

SoFi to acquires Galileo Financial Technologies for $1.2 billion.

January 27, 2020

SoFi and Mastercard announces a multifaceted partnership to offer a suite of products and in-person experiences to its nearly one million SoFi members.

May 8, 2019

SoFi launches gig-focused ETF

The company announced a new exchange-traded fund (ETF) product focused on the gig economy.

September 27, 2018

SoFi announced that its Board of Directors has named Anthony Noto as chief executive officer and a director, effective March 1.

September 15, 2017

Social Finance's CEO Mike Cagney will step down immediately as chief executive, accelerating a departure announced this week amid a sexual harassment scandal.

September 30, 2015

SoFi raises a $1,000,000,000 series E round from SoftBank Group, DCM Ventures, Baseline Ventures, Jeff Seibert, Wellington Management, IVP, Third Point Ventures and RPM Ventures.

March 15, 2012

SoFi raises a $4,000,000 series A round.

Funding rounds

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People

Name
Role
LinkedIn

Daniel Macklin

Co-Founder

Aaron Yip

Employee

Adam Finch

Employee

Aimee Young

Employee

Alan Donner

Employee

Alana Aldag Ackerson

Investor

Amanda Wood

Employee

Amber Sheraton

Employee

Andrew Lerner

Investor

Ashley Galgano

Employee

Barney Schauble

Investor

Benton McTaggart, MBA

Employee

Bill Karieva

Employee

Bill Tobin

Investor

Carlos Diaz

Employee

Catherine Phan

Employee

Clint Korver

Investor

Daniel Fell

Employee

Danielle Kees

Employee

Darwin Ling

Investor

Dror Berman

Investor

Dustin York

Employee

Eddy Lee

Employee

Edward Tsai

Investor

Greg Such

Employee

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Further reading

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Documentaries, videos and podcasts

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Companies

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CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
July 27, 2020
WebWire
Samsung, SoFi and Mastercard together launch the mobile-first money management platform; Account holders will obtain exclusive access to discounts on Samsung products Samsung Electronics America, Inc., announced tconsumers in the U.S. can sign-up for and access Samsung Money by SoFi: a mobile-first money management experience. Launched in partnership with SoFi, a leading fintech company, Samsung Money by SoFi brings a cash management account, accompanying Debit Mastercard and exclusive...
Samantha Hurst
May 27, 2020
Crowdfund Insider
Click HERE to find out ⭐ Samsung Partners With SoFi For Mobile-First Money Management Experience "Samsung Money By SoFi". | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
May 27, 2020
WebWire
Samsung Electronics America, Inc., unveiled Samsung Money by SoFi, a new mobile-first money management experience that brings a cash management account and accompanying Mastercard debit card along with exclusive benefits to Samsung Pay, in partnership with innovative fintech company SoFi. The account is secure, with no account fees and rewards users for saving--earning higher interest relative to the national average of transactional accounts. [1] At a time when people are turning to th...
Samantha Hurst
May 21, 2020
Crowdfund Insider
Click HERE to find out ⭐ SoFi Expands Partnership With Ladder to Include Estate Planning. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Samantha Hurst
May 11, 2020
Crowdfund Insider
Click HERE to find out ⭐ Samsung Pay to Join Forces With SoFi to Create New Debit Card. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Eric Eldon
April 11, 2020
TechCrunch
While consumer tech has matured as a startup category in recent years, many investors continue to be bullish on specific trends like online gaming, voice, and the unbundling of platforms in favor of focused social networks.
Anna Irrera
April 7, 2020
IN
Online student lender Social Finance Inc has agreed to acquire payments technology provider Galileo Financial Technologies for $1.2 billion in cash and stock, the companies said on Tuesday.
January 27, 2020
WebWire
SoFi, the digital personal finance company, and Mastercard today announced a multifaceted partnership to offer a suite of products and in-person experiences to its nearly one million (and growing) SoFi members. The partnership will initially focus on the SoFi MoneyTM debit card, for which Mastercard will now be the exclusive card network. The card is one way to spend with the SoFi Money cash management account - unveiled last year - which offers no account fees, high-yielding interest...
Connie Loizos
December 1, 2019
TechCrunch
Figure Technologies, a nearly two-year-old, San Francisco-based fintech cofounded by Mike Cagney, the founder of the more established fintech company SoFi, is raising a whole lot of money -- again. By February of this year, Figure had already raised $120 million in equity funding from a gaggle of investors, including RPM Ventures, partners at DST [...]
Sarah Perez
November 6, 2019
TechCrunch
Stealth fintech startup Digits, from the same team that built Crashlytics to scale then sold to Twitter for over $100 million, has raised a $10.5 million round of Series A funding, the company is announcing today. The round was led by Benchmark and has the backing of 72 angels, including founders and CEOs from companies [...]
Clint Proctor
September 16, 2019
Business Insider
SoFi can help you refinance your student loans at a lower interest rate. And, since it offers a host of other products, you can better rates on loans.
Arman Tabatabai
May 8, 2019
TechCrunch
SoFi is one of the leading fintech startups to emerge from San Francisco and breach the financial markets. Originally started as a way to better finance student debt, it has since expanded to include products targeted at personal loans and home loans. Today, the company announced a new exchange-traded fund (ETF) product focused on the [...]
Connie Loizos
Invalid Date
TechCrunch
Figure, a 13-month-old, San Francisco-based company that says it uses blockchain technology to provide home equity loans online in as little as five days, has raised a whole lot of money in not a lot of time: $120 million to date, including $65 million in fresh funding from RPM Ventures and partner...

References

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