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SoFi Brings the Future

It is time to shine a bright light on personal finance company SoFi.  Most likely you are already familiar with SoFi, but if not, click here for their webpage. Fundamentally, SoFi engages in “social financing”, connecting fiscally responsible individuals in need of capital with able investors.

 Since its founding less than eight years ago, SoFi has enjoyed robust and steady growth that has been nothing short of astounding.  Their inaugural student loan program in 2011 was a $2,000,000 venture benefiting 100 students. Bear that in mind as you consider SoFi’s most recent figures: as of now the company has made $30 billion in loans to its more than 600,000 members.

 After a few years of specializing exclusively in student loans, SoFi extended its services into home mortgages, mortgage refinancing, and personal loans. Let’s call this expansion number one… last year’s news. In more recent developments, SoFi has reached beyond these conventions to build a variety of innovative financial products — Sofi Money, Sofi Invest, and Sofi Insurance. With these new ventures, SoFi provides 21st Century solutions for age-old needs ranging from debit cards and cash management, financial advisory (with robo-advisors as well as live financial advisors for those new to investing), insurance, and all-encompassing financial and budgetary planning for individuals.

 Simply put, SoFi has mastered the winning combination of one-stop shopping and cutting-edge technology.

 Today’s estimates (as per Pitchbook) value SoFi at about $4.4 billion.  Two years ago, an unspecified European bank offered to buy the company at $6 billion.  In October 2018, Charles Schwab made a bid for the company for $8 billion…  a significant premium over their valuation, to say the least.

 SoFi CEO Anthony Noto has said that an IPO is part of his long-term plans for the company. At Iron Edge VC, we are very excited to have access to SoFi shares before the public offering. If you would like to learn more, or if you know of anybody else who would, please do not hesitate to contact us by clicking “Get in Touch” below.

 As always, shares are available on a first come, first served basis.

All Our Best,

Paul Maguire, Managing Partner and The Iron Edge Team

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Paul Maguire

Founder And Managing Partner