Richards Kibbe & Orbe partner Jahan Sharifi was interviewed by American Banker regarding the remarkable success and growth of Social Finance (SoFi), who recently obtained an equity investment of $1 billion. This equity investment may be the largest ever in a U.S. marketplace lender, and the young company is quickly catching up to industry leader Lending Club in terms of valuation.
Mr. Sharifi believes SoFi's focus on young, tech-savvy professionals continues to be a smart strategy. "At a time when there was at least some feeling like Lending Club and Prosper had such a huge lead on the rest of the market, [SoFi has] managed to generate a huge amount of volume and, it appears, a terrific customer base," he said.
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