SoFi Blog

Jennifer Beall, Founder & CEO of Tot Squad, does not have the average startup story.  As she puts it, “Everyone else wanted to start the next Facebook, while I was working on cleaning baby poop off of car seats.”  But Jennifer, Kellogg MBA ’10 and Duke ’05, and her business are about more than just stroller and car seat cleaning/installation.   She and Tot Squad are on a mission to make moms happier, kids safer and the world a better place.

When we started SoFi back in 2011, my co-founders and I felt we were on to something special.  We knew there was a problem with financial services, and we wanted to fix it.  Two-plus years and 5,000 members later, our original vision is coming to fruition.  The $80 million round we closed in April will help solidify our position as something much more than a student loan business.  We are on a path to deliver a better model for consumer finance.

There’s no question that being an entrepreneur requires you to wear a lot of hats – from product development to logistics to marketing, and everything in between.  And while most entrepreneurs will admit that they are weaker in some of these areas than others, there’s one aspect that few startups can afford to fall short on: fundraising.

We’ve all heard the entrepreneur stereotypes.  We picture early stage entrepreneurs eating ramen and sleeping on couches, scraping by while trying to get their dream off the ground.  Then, when they finally do, we think that their lives are all fame and glory and lavish lifestyles.

Earlier this year, we launched the SoFi Entrepreneur Program to help our borrowers who have entrepreneurial aspirations refine their startup ideas, connect with mentors and potential investors, and develop the skills critical to getting early-stage funding.