Social Finance, Inc (SoFi) is an online personal finance company that provides student loan refinancing, mortgages and personal loans.
SoFi was founded in 2011 by Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, four students who met at the Stanford Graduate School of Business. The founders hoped SoFi could provide more affordable options for those taking on debt to fund their education. The company’s inaugural loan program was a $2 million pilot at Stanford. For this pilot, 40 alumni invested an average of $50,000 to 100 students.
SoFi has a Total amount of $2.2B in Funding in 12 Rounds from. They company raised $500M from Silver Lake Partners in their latest Series F funding on Feb 24, 2017. Their Lead Investors includes SoftBank, Silver Lake Partners, Third Point Ventures etc.