Social Finance Inc. is close to raising about $500 million in a funding round expected to be led by private equity firm Silver Lake Partners to bolster the expansion of its online-lending businesses and personal financial services, according to people familiar with the matter.
The investment round should include several Asian investors, who will join Japan’s SoftBank Group Corp., DCM Ventures, Third Point and others. The new international group will purchase SoFi’s loans as well as take an equity stake, said one of the people, asking not to be identified because the matter is private. The round could close as early as next week, the person said. Bloomberg reported in September that SoFi was aiming to raise $500 million.