SoftBank and Renren-backed online financial services provider SoFi is now valued at $4.8bn following a $500m round led by QIA.

SoFi, the US-based online finance platform developer backed by telecommunications firm SoftBank and social media company Renren, completed a $500m funding round led by the state-owned Qatar Investment Authority (QIA) yesterday. The funding was raised at a $4.3bn pre-money valuation, the same valuation as the company‚Äôs last round, and QIA was joined by undisclosed existing…

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