What SoFi’s $500 Million Funding Round Means For Incumbents

Business Insider provides their perspective on SoFi’s $500 million funding round that was announced this week; the personal finance space is becoming more competitive so SoFi will likely use this money to expand into new areas such as a credit card; most fintech companies began with a narrow focus solving a particular pain point but as they grow some of the bigger players are looking to become a one-stop shop for finance. Source.