SoftBank just led a $1 billion round of funding for Social Finance

It looks like investors are still very, very interested in online lenders. For proof of this, you need look no further than San Francisco, where a local startup by the name of Social Finance just completed a $1 billion round of funding led by Japan’s SoftBank, which brings its lifetime funding to a total of $1.42 billion. Social Finance offers borrowers and lenders dealing in loans a way to connect with each other without having to go through banks, with a heavy focus on offering much lower rates than traditional lenders.