Student-Loan Online Start-Up Gets Financing
Social Finance Inc., a one-year-old Internet start-up that offers inexpensive student loans through a mechanism known as “group-to-group” lending, has raised $77.2 million to expand its service to universities nationwide.
The funding values the San Francisco company at more than $177 million, up from $8 million a year ago, a person familiar with the matter said.
Investors include venture-capital firms Baseline Ventures and DCM and Chinese social-networking concern Renren Inc.