What SoFi’s $500 Million Funding Round Means For Incumbents

Business Insider provides their perspective on SoFi’s $500 million funding round that was announced this week; the personal finance space is becoming more competitive so SoFi will likely use this money to expand into new areas such as a credit card; most fintech companies began with a narrow focus solving a particular pain point but as they grow some of the bigger players are looking to become a one-stop shop for finance. 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.

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