Bloomberg is reporting that SoFi is in the final stages of closing a $500 million funding round from the Qatar Investment Authority that could close as soon as this week; The new round reportedly values that company at around $4.3 billion similar to their last funding round in 2017 but in order to get that valuation SoFi has had to offer more protections for investors; the terms of the deal have not been finalized and could change; this will be the first equity raise under new CEO Anthony Noto who has been in the job about 14 months. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.