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Tech investors love fast-growing marketplace lenders like Social Finance, but Wall Street has taken a dimmer view of them. A huge equity fundraising round should allow SoFi to keep fueling rapid growth while remaining privately owned.
August 20 -
A growing number of fintech startups are appealing to the sensibilities of millennials by meeting social missions and, in some cases, by tying the amount of business they generate to the amount they give back to charity or to their customers.
August 26 -
Student lending startup CommonBond has hired Morgan Edwards, a longtime Wall Street leveraged debt specialist, as its chief financial officer.
July 29
The marketplace lender CommonBond announced that it has raised $35 million, which it plans to use to expand its operations across the country.
The New York company, which launched in 2012, finances tuition for students at some of the nation's top business schools. It also refinances existing student loans for graduates of a wider range of degree programs.
In a press release announcing the fundraising, CommonBond said that it expects to hit $500 million in total loans originated by the end of this year.
The funding round was led by the venture capital firm August Capital. Nyca Partners, another venture firm that focuses on the financial services sector, also contributed.
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