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SoFi Seeking Financing of as Much as $1B

August 17, 2018, 08:28 AM
Filed Under: Industry News
Related: Fintech

According to a Bloomberg report, Social Finance, Inc. is in talks with banks to secure a revolving line of credit of as much as $1 bllion after posting a second quarter loss, according to people famiar with the atter.

According to the report, the loan would be a precusor to an IPO, which is expected to happen sometime next year according to sources. As reported by Bloomberg, SoFi is tryng to transform itself into a broad online financial-servces company and has been hinting at an IPO since at least 2015.

Read the full Bloomberg story here.

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