Social finance

Merit America Awarded $10M Grant From Ascendium Education Group

Retrieved on: 
Friday, December 9, 2022

Nonprofit workforce development organization Merit America today announced a three-year, $10 million grant from Ascendium Education Group .

Key Points: 
  • Nonprofit workforce development organization Merit America today announced a three-year, $10 million grant from Ascendium Education Group .
  • The funding will be used to support Merit America in scaling its skills building and career placement programs.
  • Ascendium Education Groups backing has been game-changing for our nationwide scale, said Connor Diemand-Yauman, Co-CEO and Co-Founder of Merit America.
  • Ascendium Education Group is a 501(c)(3) nonprofit organization committed to helping people reach the education and career goals that matter to them.

KBRA Assigns a Preliminary Rating to SoFi Consumer Loan Program 2022-1S Trust

Retrieved on: 
Thursday, November 10, 2022

KBRA assigns a preliminary rating to a single class of notes issued by SoFi Consumer Loan Program 2022-1S Trust (SCLP 2022-1S), a $440.0 million consumer loan asset-backed securities transaction.

Key Points: 
  • KBRA assigns a preliminary rating to a single class of notes issued by SoFi Consumer Loan Program 2022-1S Trust (SCLP 2022-1S), a $440.0 million consumer loan asset-backed securities transaction.
  • SCLP 2022-1S has an initial credit enhancement level of 26.98% for the Class A notes.
  • KBRA applied its Consumer Loan ABS Global Rating Methodology, as well as its Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology as part of its analysis of the transactions underlying collateral pool, the proposed capital structure and SoFis historical static pool data.
  • KBRA considered its operational review of SoFi as well as periodic update calls with the Company.

United Way Miami and Social Finance Launch Workforce Project Pilot to Upskill Miami Residents

Retrieved on: 
Tuesday, August 2, 2022

MIAMI, Aug. 2, 2022 /PRNewswire/ -- United Way Miami, in partnership with Social Finance, a national impact finance and advisory nonprofit, today announced the launch of the United Way Miami Workforce Project, an initiative designed to upskill Miami residents and empower them to secure in-demand jobs that lead to economic mobility. This program is the direct result of a multi-million dollar gift made to United Way Miami in 2020 by philanthropist and novelist, Mackenzie Scott. 

Key Points: 
  • Project supported by a philanthropic gift from Mackenzie Scott; participants to be trained in coding for the pilot
    MIAMI, Aug. 2, 2022 /PRNewswire/ -- United Way Miami , in partnership with Social Finance , a national impact finance and advisory nonprofit, today announced the launch of the United Way Miami Workforce Project , an initiative designed to upskill Miami residents and empower them to secure in-demand jobs that lead to economic mobility.
  • Social Finance is managing the United Way Miami Workforce Project, which has launched as a pilot program with training partner 4Geeks Academy to train Miami residents for careers in coding and programming technologies.
  • United Way and Social Finance anticipate the project will expand to training providers in other industries in the coming months, such astransportationand healthcare.
  • "We are thrilled to be chosen as the first training partner for the United Way Miami Workforce Project," said Marcelo Ricigliano, CEO of 4Geeks Academy.

Change in Name and Ticker Symbol for Two Tidal ETFs

Retrieved on: 
Friday, July 29, 2022

CHICAGO and MILWAUKEE and NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) -- Effective August 9, 2022, two series of the Tidal ETF Trust will undergo a change in name and ticker symbol.

Key Points: 
  • CHICAGO and MILWAUKEE and NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) -- Effective August 9, 2022, two series of the Tidal ETF Trust will undergo a change in name and ticker symbol.
  • The SoFi Gig Economy ETF (GIGE), listed on The Nasdaq Stock Market, LLC, will become the SoFi Be Your Own Boss ETF (BYOB).
  • Formed by ETF industry pioneers and thought leaders, Tidal ETF Services LLC sets out to revolutionize the way ETFs have historically been developed, launched, marketed, and sold.
  • With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring lasting ideas to market.

International Foundation for Valuing Impacts Holds Inaugural Board Meeting

Retrieved on: 
Tuesday, July 12, 2022

BOSTON, July 12, 2022 /PRNewswire/ -- The newly formed International Foundation for Valuing Impacts (IFVI), a spinoff from the Impact-Weighted Accounts (IWA) project at Harvard Business School, held its inaugural board meeting this past weekend to launch the organization.

Key Points: 
  • BOSTON, July 12, 2022 /PRNewswire/ -- The newly formed International Foundation for Valuing Impacts (IFVI), a spinoff from the Impact-Weighted Accounts (IWA) project at Harvard Business School, held its inaugural board meeting this past weekend to launch the organization.
  • The goal of the International Foundation for Valuing Impacts is to drive the global integration of impacts in financial analysis to promote effective resource allocation and achieve long-term financial stability.
  • Since its inception in 2019, IWA has demonstrated that impact-weighted accounts are feasible, valuable, and scalable.
  • The initial Board of Directors of IFVI comprises five directors; additional representatives will be named once the establishment of the entity has been completed.

Social Finance Announces New Career Impact Bond with Clinical Research Fastrack to Expand Access to Clinical Research Job Training, Economic Mobility

Retrieved on: 
Wednesday, July 6, 2022

BOSTON and SCOTTSDALE, Ariz., July 6, 2022 /PRNewswire/ -- Today, Social Finance announced its latest Career Impact Bond, a $5 million partnership with Clinical Research Fastrack to help people facing barriers to employment, including immigrants and refugees with impressive medical or science degrees earned outside of the U.S., find careers within the growing clinical research industry.

Key Points: 
  • "We're excited to partner with Clinical Research Fastrack to train clinical research professionals who help bring new life-saving treatments to market," Social Finance CEO and Co-Founder Tracy Palandjian said.
  • "It's exciting to collaborate with Social Finance on a program that will diversify and strengthen the clinical research industry," Clinical Research Fastrack Co-Founder and CEO David Silberman said.
  • Clinical Research Fastrack was founded in 2016 to improve the quality and progress of clinical research by educating and empowering new research professionals.
  • Clinical Research Fastrack trains aspiring Clinical Research professionals and connects them with leading research organizations to elevate the efficacy of clinical trials.

Year Up Announces New Austin Site Offering Google Career Certificates and Accelerated Courses to Connect Young Adults with Technology Careers

Retrieved on: 
Friday, June 17, 2022

AUSTIN, Texas, June 17, 2022 /PRNewswire-PRWeb/ -- Continuing to develop innovative solutions that connect under-represented talent to high-quality jobs, the workforce development nonprofit Year Up announced today that it is launching a new virtual site in Austin that will serve young adults (ages 18-29, without bachelor's degrees), interested in advancing their careers in technology.

Key Points: 
  • A two-week, tuition-free accelerated course for young adults who already have technical skills related to help desk/desktop support (such as computer systems literacy and ticketing system administration).
  • "We're excited to launch Year Up Austin to provide pathways for young adults to gain technical careers with leading employers in the community, said Gerald Chertavian, Year Up Founder and CEO.
  • "Year Up's proven approach has empowered tens of thousands of young adults across the US," said Year Up Austin Site Director Yvonnda Shelton.
  • "Now, young adults in Austin have the opportunity to develop their expertise in tech and launch careers at top companies in the area."

New York Court Approves $300 Million Settlement Benefitting Minority Shareholders in Renren Derivative Litigation Announces Reid Collins

Retrieved on: 
Thursday, June 9, 2022

Derivative Litigation (NYSE:RENN), one of the largest cash settlements of a derivative action in history.

Key Points: 
  • Derivative Litigation (NYSE:RENN), one of the largest cash settlements of a derivative action in history.
  • Litigation powerhouse Reid Collins & Tsai LLP, Lead Counsel for the derivative plaintiffs, originally announced the terms of the settlement in October 2021.
  • Reid Collins Founding Partner William T. Reid, IV on the resolution of the Renren litigation: "This is an extraordinary result by any measure.
  • Obtaining jurisdiction over these foreign defendants was no small task, but obtaining derivative standing was an even greater achievement.

SoFi Invest Adds More Hours to the Trading Day to Empower Members to Trade on Their Own Terms

Retrieved on: 
Thursday, June 2, 2022

SoFi Technologies, Inc. (SoFi), the digital personal finance company, today announced SoFi Invest is rolling out extended trading hours over the coming weeks.

Key Points: 
  • SoFi Technologies, Inc. (SoFi), the digital personal finance company, today announced SoFi Invest is rolling out extended trading hours over the coming weeks.
  • Members will have the ability to trade from 9 AM ET through 8 PM ET, adding 4.5 hours to the trading day, allowing members to trade whenever it is convenient for them.
  • Additionally, extended trading hours allows members to react to activity in foreign markets when it happens vs. having to wait until the following day to make trades.
  • SoFi Invest offers both automated (robo-advising) and active investing (trading) with no fees on stock trading or account minimums.

UA Multimedia to Introduce Social Finance Platform with Integrated Social Media, Crypto and Marketplace

Retrieved on: 
Thursday, May 19, 2022

IRVINE, CA, May 19, 2022 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC Pink: UAMM), a technology company with a focus in blockchain, cryptocurrency, DeFi, NFT and metaverse, today announces the introduction of its Social Finance (SocialFi) platform with integrated social media, crypto and marketplace.

Key Points: 
  • IRVINE, CA, May 19, 2022 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC Pink: UAMM), a technology company with a focus in blockchain, cryptocurrency, DeFi, NFT and metaverse, today announces the introduction of its Social Finance (SocialFi) platform with integrated social media, crypto and marketplace.
  • To cater to this large global market, UA Multimedia will be introducing a SocialFi platform that will integrate social media with blockchain, crypto and marketplace.
  • UA Multimedia continues to enhance its existing crypto and NFT marketplace modules with the goal of integrating all the components into one platform that offer currency exchange, marketplace and social media.
  • The upcoming SocialFi platform further expand our product offerings in the blockchain and crypto space, commented Michael Lajtay, CEO of UA Multimedia.