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Report: Social Finance CEO now says IPO possible

After posting record earnings and loan volume in the second quarter, Social Finance Inc. may be planning to go public in the near future, The Wall Street Journal reported.

SoFi CEO Mike Cagney, who in 2015 said that SoFi would indefinitely put off an IPO, reportedly hinted that such an offering may be possible now that the company has bounced back from a turbulent 2015. In a letter to investors, Cagney wrote that the management now sees an IPO as very much in the cards in the "not so distant future."

The company generated about $134 million in revenue in the second quarter and reported adjusted earnings before interest, taxes, depreciation and amortization of $61.6 million.