Social Capital Hedosophia V to merge with Sofrbank-backed SoFi in a $8.65bn deal.

SoftBank-backed SoFi, a financial services platform, went public via a SPAC merger with Social Capital Hedosophia V, a specialty purpose acquisition company, in an $8.65bn deal. “SoFi is on a mission to help people achieve financial independence to realize their ambitions. The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us. We look forward to helping more people get their money right in the years to come," Anthony Noto, SoFi CEO.