Total amount raised
$6.1 Billions
Latest funding date
Location
Title
SoFi has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of financial services, including loans, investment options, and banking solutions.
Keep reading to delve into the details of SoFi's funding journey and discover the key investors supporting this dynamic financial services company.
What Is SoFi?
SoFi, short for Social Finance, Inc., was founded on August 1, 2011, in San Francisco, California. The company was established by Andrew Carra, Daniel Macklin, Ian Brady, James Finnigan, and Michael Cagney.
SoFi offers a wide range of financial products and services, including personal loans, student loan refinancing, home loans, investment services, and banking solutions. They aim to help individuals manage their finances effectively, from borrowing and saving to investing and spending.
With a workforce of 1001-5000 employees, SoFi continues to grow and innovate in the financial services sector, providing comprehensive solutions to meet the diverse needs of its clients.
How Much Funding Has SoFi Raised?
- Round Name: Venture Round
- Amount Raised: $500M
- Date: May 2019
- Lead Investors: Qatar Investment Authority
- Valuation at Round: $4.3 billion
- Motivation Behind the Round: To expand financial services offerings and support growth.
- Round Name: Venture Round
- Amount Raised: $369.8M
- Date: January 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial position and support expansion.
- Round Name: Post-IPO Equity
- Amount Raised: $1.2B
- Date: January 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and product diversification.
- Round Name: Post-IPO Debt
- Amount Raised: $750M
- Date: March 2024
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support ongoing operations.
- Round Name: Post-IPO Debt
- Amount Raised: $525M
- Date: January 2025
- Lead Investors: PGIM
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance liquidity and support strategic initiatives.
- Round Name: Post-IPO Debt
- Amount Raised: $697.6M
- Date: March 2025
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further strengthen financial position and support growth.
SoFi has raised a total of $4.0424 billion in funding. The current valuation is not publicly disclosed.
Key Investors
- Qatar Investment Authority (QIA)
- Details: The Qatar Investment Authority is a sovereign wealth fund based in Doha, Qatar. It was established to manage the surplus revenues of the State of Qatar.
- Investment Focus Areas: Real estate, infrastructure, technology.
- Notable Investments: Various global investments across multiple sectors.
- SoftBank
- Details: SoftBank is a Japanese conglomerate holding company headquartered in Tokyo. It is known for its significant investments in technology and telecommunications.
- Investment Focus Areas: Technology, telecommunications, energy.
- Notable Investments: Uber, WeWork, Alibaba.
- Silver Lake Partners
- Details: Silver Lake Partners is a private equity firm focused on technology investments. It is headquartered in Menlo Park, California.
- Investment Focus Areas: Technology companies with strong growth potential.
- Notable Investments: Dell Technologies, Airbnb, Twitter.
- PGIM
- Details: PGIM is the global investment management business of Prudential Financial, Inc. It offers a range of investment solutions across various asset classes.
- Investment Focus Areas: Real estate, fixed income, equity.
- Notable Investments: Specific notable investments are not detailed on the page.
- Coatue
- Details: Coatue is a global investment firm focused on technology, media, and telecommunications. It is headquartered in New York City.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: ByteDance, DoorDash, Snap Inc.
What's Next for SoFi?
SoFi stands at the cusp of significant opportunities, particularly with its expansion into the $3.9 trillion U.S. ETF market. This move not only diversifies its product offerings but also positions it to attract a younger, tech-savvy customer base. The potential for growth in the neo-banking space, competing with the likes of Chime and Acorns, further underscores the vast opportunities ahead.
To capitalize on these opportunities, SoFi may seek additional funding rounds. The involvement of global investors like the Qatar Investment Authority suggests a strong potential for future investments. However, the path forward is not without challenges. Intense competition, regulatory scrutiny, and the need to maintain customer trust will be critical hurdles. Navigating these challenges will be essential for SoFi to sustain its growth trajectory.
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