Tagged: mike cagney

SoFi Elects Mike Bingle, Steven Freiberg, & Robert L. Joss to Board of Directors

Online lender SoFi announced on Thursday it has elected Mike Bingle, Steven Freiberg, and Robert L. Joss to its Board of Directors. This news comes just a couple of weeks after the lending platform closed a $500 million funding round led by Silver Lake. While sharing… Read More

SoFi Moves Closer to the Future of Banking with Acquisition of Zenbanx

Top Online Lender SoFi Acquires Digital Only Bank Zenbanx SoFi has announced the acquisition of Zenbanx, a Delaware-based Fintech firm providing multi-currency mobile banking services in the U.S. and Canada. SoFi revealed it intends to leverage Zenbanx’s platform and underlying technology to expand its growing suite of… Read More

SoFi’s Mike Cagney Discusses Future Plans & Competition on “Bloomberg Technology” (Video)

Earlier this week, CEO of online lender SoFi, Mike Cagney, sat down with Caroline Hyde on “Bloomberg Technology” to discuss the platform’s plans for 2017 along with revealing details about the lender’s competitors. SoFi, which was founded in 2011, currently offers various types of lending options…. Read More

SoFi Chats Up Employee Benefit Program for Student Debt

SoFi has released a new service as they expand their financial wellness offerings. SoFo has created “SoFi at Work”, the program is similar to a 401(k) where companies offer the service as a nice benefit. It should be noted that SoFi contributes $200 to each… Read More

Big Deal: US Fintech SoFi’s $500M Raise Will Enable Growth and Global Reach

The word on the street is that one of the US’ largest online lenders, SoFi, is pitching a new $500 million fundraising effort, according to the WSJ; the San Francisco-based privately held lender helmed by CEO Mike Cagney will reportedly use the funding for new growth initiatives among mass-market borrowers and… Read More

#LenditUSA Bigger than Ever as Online Lending Begins to Mature

  LenditUSA 2016 was bigger than ever. If you look back just three years the venue and the organizers have scaled what was once a relatively small gathering of 375 industry participants in 2013 to one that is truly a global event with over 3,500… Read More

Brief: SoFi Launches Hedge Fund

While this should probably not come as a surprise, SoFi CEO and founder Mike Cagney spoke to WSJ.com and announced the creation of a hedge fund.  The SoFi Credit Opportunities Fund filing hit the pages of the SEC in January and is designed to invest in SoFi’s own… Read More

SoFi Said to be Exploring Launch of REIT as Range of Services Expand

SoFi, perhaps the fastest growing marketplace lending platform, is investigating the possibility of launching a Real Estate Investment Trust (REIT). This is according to a report in Bloomberg that cited people with knowledge of the preparations.  SoFi is said to be considering the option as… Read More

SoFi on the Offensive: Put Banks on the Endangered Species List

  SoFi is one of the fastest growing marketplace lending platforms in the United States. The direct lender started by providing student loan services to well-educated young professionals. These borrowers were typically ignored by banks as the monolithic banking model and its antiquated process denied reality… Read More

SoFi Surpasses $6 Billion in Funded Loans & Appoints Barbara Lambotte as Vice President

SoFi, a marketplace lender for financially responsible consumers, announced on Thursday it has surpassed $6 billion in funded loans across mortgages, personal loans, and student loan refinancing. Founded in the Fall of 2011, SoFi is the first marketplace lender to have reached Founded in the Fall… Read More

Peter Renton, Founder of Lend Academy & LendIt Conference, Contributes to Marketplace Lending’s Global Understanding, Growth & Success

  “I think Fintech, particularly as it applies to lending, has the capacity to completely transform how consumers and small business use credit. The best platforms are true innovators, underwriting consumers and small businesses in new ways using data that was simply unavailable ten or… Read More

What Do We Want FinTech to be When it Grows Up?

Last week, Mike Cagney, the CEO of SoFi, gave an interview in the San Francisco Business Journal in which he made some fairly controversial comments. It instantly made the rounds in the industry and has become  a topic of much debate. I recommend reading the… Read More

SoFi CEO: We Want to Change Banking Entirely

Sofi CEO and co-founder Mike Cagney recently commented on the $1 billion in funding they received from a Series E round led by SoftBank.  Cagney nonchalantly explained they now have more options as to when they will go public. That is a bit of an… Read More

SoFi Raises $1 Billion from SoftBank. Largest Financing Round Ever in Fintech

Online lender SoFi has just closed on a Series E funding round in the amount of $1 billion.  Led by SoftBank, SoFi has claimed the “largest single financing round in the Fintech space” ever. SoFi has now raised approximately $1.42 billion in equity. The marketplace… Read More

SoFi Surpasses $4 Billion in Funded Loans; Adds Former SEC Chairman Arthur Levitt as Advisor

SoFi, the second largest marketplace lender, today announced Arthur Levitt, the longest-serving chairman of the US Securities and Exchange Commission (SEC), will become an advisor.  Levitt served at the SEC from 1993 to 2001. The firm also announced it has surpassed $4 billion in funded… Read More

According to this Report, SoFI’s Valuation Places it in the Top-30 U.S. Banks by Market Capitalization.

SoFi, or Social Finance, is a marketplace lending platform that uses data to provide loans to refinance student debt.  The direct lender has had an enviable degree of success in generating solid risk adjusted returns for its investors. SoFi claimed the title of fastest growing marketplace… Read More

Pinterest’s Joanne Bradford Joins Marketplace Lender SoFi as Chief Operating Officer

SoFi, the second largest marketplace lender, announced on Monday that Joanne Bradford has joined the firm as Chief Operating Officer.  Bradford was most recently head of partnerships at Pinterest. She is a seasoned executive highly regarded for her experience driving growth at some of the country’s leading startups,… Read More

SoFi is the Fastest Growing Marketplace Lender

Sofi, a marketplace lending platform, has been on a roll lately.  The direct lending platform closed a new securitization of  $411 million, all backed by student loans.  This was the largest securitization by a marketplace lender to date.  SoFi expects to $1 billion in securitization in Q3… Read More

SoFi to Issue $411 Million in Bonds. Moody’s Rates from Aa2 to Baa3

SoFi received provisional ratings from Moody’s on over $411 million in post graduate loan backed notes on Monday. The notes were rated from Baa3 to Aa3 – the highest rating received to date according to Bloomberg. According to Moody’s the provisional ratings were assigned to… Read More

SoFi CEO: Expect an IPO in Next 12 Months (Video)

SoFi (or Social Finance) CEO and co-founder Mike Cagney was featured on CNBC’s Disruptor 50 list.  Cagney visited the the network’s studios to talk about his fast growing marketplace lending platform and shared some insight into the companies near future. SoFi started out as a… Read More

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