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Dan Primack Feb 24, 2017
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SoFi scores $500 million

SoFi CEO Mike Cagney (r), President/CFO Nino Fanlo (l)

Social Finance (SoFi) on Friday confirmed earlier media reports that it has raised $500 million in new funding led by private equity firm Silver Lake. Others participants include asset management firm GPI Capital and Japan's SoftBank, which had invested $1 billion into SoFi in September 2015.

Axios spoke with SoFi co-founder and CEO Mike Cagney, to learn more about the deal specifics, deal rationale and SoFi's intentions toward going public and expanding into business lending: