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Largest single round of financing in the fintech space to date will fuel SoFi’s expansion as the primary financial services partner for high achieving professionals SoFi, a leading marketplace lending startup, raised $1 billion in Series E funding led by the SoftBank Group, marking the largest single financing round in the fintech space to date. Existing investors participating in the round include Third Point Ventures and affiliates of Third Point LLC, Wellington Management Company LLP, Institutional Venture Partners (IVP), RenRen, Baseline Ventures, DCM Ventures and others. “SoFi continues to redefine consumer expectations in financial services,” said Mike Cagney, SoFi CEO and co-founder. “This funding will dramatically advance expansion of our disruptive products and experiences, and in turn, meaningfully benefit financially responsible individuals. Our trajectory is clear: we are well on our way to becoming the most trusted financial services partner in the U.S.,” he continued. “SoftBank seeks to invest in large industries or geographies that are ripe for change,” said Nikesh Arora, President & COO of SoftBank Group Corp. “This investment gives SoftBank exposure to the financial services sector, which is one of the largest and most important industries in the world. SoFi is clearly a game changer in the fintech space,” he added. The Series E round brings total equity investment in SoFi to $1.42 billion. The startup has been profitable since 2014. SoFi began challenging the status quo in 2011, as the first company to enable graduates to consolidate and refinance their federal and private student loans. Since that time, the company has expanded its offerings to include mortgages, mortgage refinancing, and personal loans, while earning industry-leading customer loyalty. SoFi has funded more than $4 billion in loans to date and is expected to surpass $6 billion in funded loans by the end of 2015. SoFi is headquartered in San Francisco, and currently has more than 400 full-time employees and expects to add at least 100 more by year-end. To house its burgeoning sales, servicing and underwriting teams, the startup is doubling its office space in Healdsburg, California to 20,000 sq feet, and is growing its engineering office in Helena, Montana, along with its offices in Washington, DC and Frisco, Texas. The SoftBank Group is a global technology player that aspires to drive the Information Revolution by supporting disruptive entrepreneurs. The SoftBank Group is comprised of the holding company SoftBank Group Corp. (TOKYO:9984) and its global portfolio of companies, which includes advanced telecommunications, media and Internet services and clean energy technology providers.]]>