Partners in finance: SoftBank and SoFi said a joint statement that the Series E funding round will accelerate SoFi's growth as a financial services partner for consumers disenchanted with traditional banking.
TOKYO: SoftBank Group Corp said it had led a US$1bil (RM4.40bil) investment in US financial technology startup SoFi, calling it the largest single financing round in the fintech space to date.
The deal is the latest in the sector, where relatively young companies offer financial services through software. In July, Spain's Banco Santander SA agreed to provide up to around US$16mil (RM70.47mil) for any opportunities it identifies with British mobile banking software partner Monitise Plc.
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