Alternative Finances

P2P Lender SoFi Secures 80M In Series C Funding

Peer-to-peer lending service SoFi has recently announced securing $80 million in a Series C funding round led by Discovery Capital Management, with Peter Thiel, Wicklow Capital and existing investors participating.

“SoFi is creating a better financial marketplace,” said Mike Cagney, CEO of SoFi. “By bypassing the banks and directly connecting highly qualified borrowers and investors, we’ve been able to reduce their costs, improve returns and provide a much better experience than traditional financial services. The Discovery led financing allows us to aggressively build out our marketplace and significantly expand our products and services to members.”

Since launching in 2011, SoFi's 5,000 members have financed $450 million in loans.

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