SoFi Scores $41M to Transform Student Loan Market

SOCIAL FINANCE: $41 million in lending facility to San-Francisco based Social Finance, Inc. (more commonly known as SoFi) from Bancorp, which operates Bancorp Bank. This deal comes just two months after SoFi secured a $60M warehouse line from Morgan Stanley and a $77.2M round last September. Launched in April 2012, the startup provides a platform that matches students with alumni who can offer loans at a more favorable rate. The company boasts over $100M in funded loans across 82 colleges, with zero defaults. More details in press release.

Stay up to date on edtech. Sign up to have top stories delivered weekly.

Who we are

EdSurge helps schools find, select and use the right technology to support all learners.
© 2011-2016 EdSurge Inc. All rights reserved. Every student succeeds.