SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket
PYMNTS
JANUARY 7, 2021
Online FinTech startup SoFi announced Thursday (Jan. 7) that it was merging with publicly-traded Social Capital in an $8.6 billion deal that brings it instant liquidity and avoids the uncertainty of the initial public offering (IPO) process, while leaving it better positioned to take on legacy banks. In tying up with Social Capital, a special purpose acquisition company (SPAC) controlled by Canadian-American investor Chamath Palihapitiya, SoFi said it planned to accelerate its mission to help p
Let's personalize your content