SoFi raises more money in Series F with Silver Lake as anchor.
SoFi, the next generation finance company, has clinched another half billion dollars in equity funding. The Series F round was led by Silver Lake, a global leader in technology investing.
SoFi has now raised £1.9bn to date. Its most recent round was for more than $1bn dollars, and was led by Japanese technology firm SoftBank. SoftBank again took part in this latest round, with GPI Capital also piling in.
SoFi claims to have originated $8bn in loans in 2016, spread across student refinancing, mortgages and consumer loans. The firm’s user base has swollen to 225,000 people.
As for the $500m raised, SoFi has said that it will take on new areas of finance and new geographies in 2017. The firm announced the acquisition of Zenbanx in early February, paving the way for it to enter the realm of consumer banking. It has long rumoured that SoFi is sizing up a move into new geographies such as Australia and Europe, and this latest fundraise will surely play a part in that.
“We're the only personal finance company focused not just on people's money, but their careers and relationships as well,” said SoFi CEO Mike Cagney. “We know this opportunity doesn't just exist in the United States, and look forward to bringing the SoFi approach to finance to more people around the world.”
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.