SoFi

  • SoFi’s CEO wishes the US had less student loan debt

    SoFi was founded on the business of helping high-earning graduates refinance their student loans. But perhaps ironically, CEO Michael Cagney thinks today’s record amount of student loan debt is a bad thing. “I wish there were a lot less student loan debt out there,” Cagney said in an interview at Disrupt NY today. Part of the reason he believes so much debt exists is… Read More

  • SoFi gets into wealth management

    SoFi gets into wealth management

    SoFi wants to be at the center of its members’ financial lives, and believes the best way to do so is to provide new products that complement its existing portfolio of student loan, mortgage and other loans. Today the company is announcing the launch of SoFi Wealth, a product it believes will compete with Wealthfront, Betterment and other low-cost wealth management platforms. Read More

  • SoFi plans to apply for a bank charter in the next month

    SoFi plans to apply for a bank charter in the next month

    With an eye on providing banking services later this year, online lending startup SoFi is planning to apply for an industrial bank charter in the next month, according to CEO Mike Cagney. If approved, it would become the first company to receive a new industrial loan company (ILC) charter in a decade. Read More

  • What do you want to ask SoFi CEO Mike Cagney at Disrupt NY?

    What do you want to ask SoFi CEO Mike Cagney at Disrupt NY?

    Have you ever wanted to know what makes a fintech startup tick, but didn’t have the chance, or the right person, to ask? Well, we’ve got you covered: Mike Cagney, the co-founder and CEO of one of the hottest fintech businesses around, is coming to Disrupt in New York for a fireside chat, and we want to hear what you’d like to know. More on that below. But first, allow me to… Read More

  • SoFi confirms $500 million in new funding as it pushes beyond lending

    SoFi confirms $500 million in new funding as it pushes beyond lending

    Online finance startup SoFi got its start refinancing student loans but gradually has been adding other services to members. To expand into new regions and move closer to becoming a full-service financial services company, SoFi has confirmed that it raised an additional $500 million in equity financing led by Silver Lake. Read More

  • SoFi buys Zenbanx to offer banking and money transfer services to its users

    SoFi buys Zenbanx to offer banking and money transfer services to its users

    Online lending firm SoFi announced today that it has acquired Zenbanx, a startup that offers banking, debit, payments and money transfer services to users online and through a mobile app. The combination of the two will allow SoFi to move deeper into the financial lives of its customers. While today it focuses on student-loan refinancing, mortgages and personal loans, integrating Zenbanx… Read More

  • CollegeBacker publicly launches its college savings account advisory service

    CollegeBacker publicly launches its college savings account advisory service

    Paying for college sucks. And, unfortunately, college is getting more expensive just as having that degree is only increasing in importance as one of the keys to the kingdom of American success. I saved for college for years, working part-time jobs over several summers to help pay for the cost of my fancy liberal arts school degree (ask me about my job as a crawfish packer in Baton… Read More

  • How startups are trying to fix consumer debt Crunch Network

    How startups are trying to fix consumer debt

    Consumer debt remains one of the biggest challenges with the American economy. The average household has $130,922 in debt, and debt interest payments represent 9 percent of the average household income. The silver lining is that with tough problems comes the opportunity for tech companies and investors to build solutions to address them. Here are some of the startups helping us get out of debt. Read More

  • The mercurial nature of P2P lending Crunch Network

    The mercurial nature of P2P lending

    The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public companies, and their competitors, such as Funding Circle, SoFi, Prosper, RateSetter, Zopa, Avant, Kabbage and others continue to develop and increase their loan portfolios. Read More