SoFi secured the money from existing investor Renren less than a month after closing a $1bn round that valued it at $4bn.

Social media and financing company Renren closed a $150m preferred stock investment yesterday in US-based online lending platform Social Finance (SoFi), one of its portfolio companies since 2012.

The funding comes less than a month after SoFi closed a $1bn series E round featuring Renren, telecommunications firm SoftBank, Wellington Management Company, Institutional Venture Partners, Baseline Ventures, DCM Ventures and Third Point Ventures that valued it at $4bn.

Founded in 2011, SoFi operates a lending platform for student loans, mortgages…

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