Social Finance, better known as SoFi, first teased it would file for an initial public offering nearly three years ago.
But, according to an article in The Wall Street Journal by Peter Rudegeair, this never came into fruition after the online peer-to-peer lender raised $1 billion from Japanese technology giant SoftBank Group and other investors.
And then earlier this year, SoFi locked in $500 million investment led by Silver Lake, “the global leader in technology investing.” The investment brought SoFi’s total equity funding to $1.9 billion.
SoFi said it would use the funds to “accelerate its expansion into new product areas and countries outside of the United States.”
Now, three years after it first mentioned a possible IPO, SoFi CEO Mike Cagney appears to be interested in filing for an IPO again.
The article referenced a letter to investors reviewed by The Wall Street Journal. From the article:
In discussing SoFi’s search for a new finance chief to succeed Nino Fanlo, who left at the end of May, Mr….