SoFi -1

SoFi cofounder Dan Macklin is moving on. The modern lender-slash-unicorn was established in 2011 by Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady. That was then. This is now. Mike Cagney remains the CEO. Dan Macklin is out. James Finnigan is out. Ian Brady is out. Bottom Line: not the first time this sort of thing happens. Just look at CoverHound, the insurance aggregator was established by Basil Enan, Joel Hayhurst, and Rory Joyce yet is now headed by Keith Moore. Speaking of SoFi, it is planning to apply for an industrial bank charter in the next month. If approved, it would become the first company to receive a new industrial loan company (ILC) charter in a decade. File under ‘fun fact’.