Qatar Investment Authority Leads Over $500 Million Strategic Growth Investment in SoFi

Investment Supports SoFi in its Continued Investment in Innovation
and Rapid Rate of Growth

SAN FRANCISCO–(BUSINESS WIRE)–Qatar Investment Authority (QIA) today announces that it is leading an
over $500 million equity financing in SoFi, a mobile-first personal
finance company, alongside existing investors and SoFi CEO, Anthony Noto.

SoFi plans to use the funds to continue to invest in its rapid rate of
innovation and growth, fulfilling its mission to help SoFi members
achieve financial independence to realize their ambitions. The
investment round values SoFi at $4.3 billion on a pre-money basis and
further strengthens SoFi’s balance sheet to total capital of $2.3

“Over the last year, we’ve worked aggressively to grow SoFi from a
desktop lending business to a broad-based, mobile-first financial
platform enabling members to borrow, save, spend, invest and protect
their money,” said Anthony Noto, CEO of SoFi. “We’re thrilled to have
QIA as a new investor and partner in our journey to help our members Get
Their Money Right.”

“We strongly believe in SoFi’s approach, and their dedication to build a
transformational financial platform that is rapidly disrupting consumer
finance,” said Mr Mansoor Al-Mahmoud, CEO of QIA. “SoFi’s team have a
clear long-term vision for their business, and we’re proud to be their
partners and to support them on their journey as part of our broader
strategic investments in technology.”

Mr Al-Mahmoud further added: “Today’s announcement underlines QIA’s
growing focus investing in leading innovators in the TMT sector. QIA has
ambitions to build strong partnerships with Technology companies in the
US and beyond.”

This announcement follows several key product releases from SoFi since
the start of 2019. This includes SoFi
, an investment platform inclusive of active investing in
stocks and ETFs (brokerage). SoFi-branded ETFs, and automated investing.
As well as SoFi
, the features of a checking and savings account in one new
account with 2.25% APY, no fees, and the ability to spend, save, and pay
all from the SoFi mobile app. SoFi also entered the undergraduate loan
business with their Private
Student Loans
and relaunched their home
experience earlier this year. The company recently announced
that they have over 700,000 members and 7.5 million registered users.

The transaction is subject to customary closing conditions. Wachtell,
Lipton, Rosen & Katz is serving as SoFi’s legal advisor in connection
with the transaction. Morgan Stanley is serving as financial advisor and
Shearman & Sterling is serving as legal advisor to QIA.


About Qatar Investment Authority (QIA)

Qatar Investment Authority is a leading Sovereign Wealth Fund in the
world that offers economic strength for the future generations of Qatar.
We are a major contributor to realizing the Qatar National Vision of
2030, by seeking to diversify and maximize long term investments and
sustainable growth. With our global and stakeholders commitment, our
employees, nationals and internationals, we operate at the highest
financial standards and investment principles. Our investments are
socially, economically, and environmentally responsible, that looks
beyond short-term returns, as we pursue a broader, innovative, and
balanced development.

About SoFi

SoFi helps people achieve financial independence to realize their
ambitions. Our products for borrowing, saving, spending, investing, and
protecting give our more than 700,000 members fast access to tools to
get their money right. SoFi membership comes with the key essentials for
getting ahead, including career advisors and connection to a thriving
community of like-minded ambitious people. For more information, visit
or download our iOS
and Android


SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636.

Licensed by the Department of Business Oversight under the California
Financing Law License No. 6054612.

“SoFi Invest” is the brand name for brokerage products and services
offered through SoFi Securities LLC (SFS), Member FINRA/SIPC.
SoFi Money® is a product of SFS. Advisory services offered through SoFi
Wealth LLC (SFW), an SEC Registered Investment Adviser. SFS and SFW are
affiliated companies under the common control of Social Finance, Inc.
(SoFi). Neither SoFi nor its subsidiaries are a bank.

Investing in securities involves risks, and there is always the
potential of losing money when you invest in securities. Clearing and
custody of all securities are provided by APEX Clearing Corporation.
Information on SoFi Wealth available in the firm’s Form ADV Part 2
Brochure on the SEC’s website.

SoFi ETFs are distributed by Foreside Fund Services, LLC. Social
Finance, Inc. (“SoFi”) is not an affiliated person of the Funds, the
Adviser, the Sub-Adviser, the distributor, or any of their affiliates.
SoFi and/or its affiliates, including SoFi Securities, LLC, do not make
investment decisions, provide investment advice, or otherwise act in the
capacity of an investment adviser to the SoFi Funds. SoFi has provided
support in developing the methodology used by each Index ETF’s
underlying index to determine the securities included in such Index.
However, SoFi is not involved in the maintenance of each such Index and
does not act in the capacity of an index provider.


Some of the statements in this press release may be forward-looking
statements or statements of future expectations based on currently
available information. Such statements are naturally subject to risks
and uncertainties. Factors such as the development of general economic
conditions, future market conditions, unusual catastrophic loss events,
changes in the capital markets and other circumstances may cause the
actual events or results to be materially different from those
anticipated by such statements. QIA and SoFi do not make any
representation or warranty, express or implied, as to the accuracy,
completeness or updated status of such statements. Therefore, in no case
whatsoever will QIA or SoFi or their respective affiliate companies be
liable to anyone for any decision made or action taken in conjunction
with the information and/or statements in this press release or for any
related damages.


Media Contacts
Qatar Investment Authority
020 7353 4200


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