Social Finance Gets $77.2M For Student Loans
San Francisco-based Social Finance, which operates a student lending program which ties school alumni with new students, said last night that it has raised $77.2M in a Series B funding. The funding was led by Baseline Ventures, and also included DCM and Renren. Social Finance operates a loan program for college students, which sources funds from alumni. The company said it has so far generated more than $60M in loan applications and expects to commit more than $200M in student loans this year. Social Finance is headed by Joe Chen, and the firm's founders are all formerly from Stanford's Graduate School of Business (GSB).
posted on Wednesday, September 12, 2012 (Link to more information)
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