The Wall Street Journal: Silver Lake, Softbank to join $500 million investment in lender SoFi

Online lender Social Finance Inc. is nearing a deal to raise $500 million in fresh funds from an investor group led by private-equity firm Silver Lake, according to people familiar with the matter.

The new equity investment, which values SoFi at more than $4 billion, would give the San Francisco-based company a fresh round of cash as it works to shake off a tough 2016 for the online lending industry it helped pioneer. SoftBank Group, the technology-investment conglomerate run by Japanese businessman Masayoshi Son, and other existing investors are also expected to participate in the current round, which could be announced in coming weeks if all details are completed as expected, the people added.

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