Student Loan Site Social Finance Receives $77M in Funding

Social Finance arranges p2p student loans from alumni investors to graduate borrowers in the US. Currently students from 78 schools are eligable to apply for a Sofi loan in order to refinance their student loan debt. Social Finance says that it has generated more than 60 million US$ in loan applications and is on track to commit more than 200 million US$ in 2012.

Social Finance was founded only one year ago and now receives a staggering 77 million US$ series B funding from Baseline Ventures, Renren and DCM.

(Source: Techcrunch)