Social Finance Raises Massive $200M Round as it Eyes IPO

SOCIAL FINANCE: $200 million to San Francisco, CA-based Social Finance, Inc. (SoFi) in a Series D round led by Third Point Ventures and affiliates of Third Point LLC; Wellington Management Company LLP, Institutional Venture Partners and previous investors also joined. SoFi started in 2011 to help with a lending marketplace where college alumni can provide student loans at better rates. It claims to have originated over $1.75 billion in loans, and has expanded its services to cover mortgages, personal loans and a career advising network. More details in the press release.

SoFi has now raised a whopping $766 million, according to CrunchBase. The company is rumored to be eyeing an IPO later this year.