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SoFi Plans To Go Public Through Chamath Palihapitiya Backed SPAC, Valued At $8.65 Billion
Summary: Social Finance (SoFi), a one-stop financial services platform that also supports cryptocurrency transactions, has reached a final agreement with the Social Capital Hedosophia Holdings Corp. V under the billionaire Chamath Palihapitiya, to go public through special purpose acquisition company (SPAC), and the transaction valued SoFi at $8.65 billion, according to an announcement on January 7. SoFi is ...
Social Finance (SoFi), a one-stop financial services platform that also supports cryptocurrency transactions, has reached a final agreement with the Social Capital Hedosophia Holdings Corp. V under the billionaire Chamath Palihapitiya, to go public through special purpose acquisition company (SPAC), and the transaction valued SoFi at $8.65 billion, according to an announcement on January 7.
SoFi is founded by Anthony Noto, former CEO of Twitter and Managing Director of Goldman Sachs in 2011, the company initially focuses on providing student loan refinancing for millennials, its operations then expands to stock and crypto transactions, personal and mortgage loans, and wealth management services. In October last year, SoFi's application to establish a national bank was conditionally approved by the U.S. Office of the Comptroller of the Currency (OCC).
By Mary Liu
Tags: Chamath Palihapitiya,Cryptocurrency,OCC,Social Capital,SoFi,SPAC
Link: SoFi Plans To Go Public Through Chamath Palihapitiya Backed SPAC, Valued At $8.65 Billion [Copy]
