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SoFi

Not to be confused with the non-profit consultancy organization Social Finance (consultancy).
SoFi Technologies, Inc.
Company typePublic
ISINUS83406F1021
Industry
FoundedAugust 2011 (2011-08)
Founders
HeadquartersSan Francisco, California, U.S.
Area served
  • U.S.
  • Latin America
  • Hong Kong
Key people
Products
List of products
  • Student loans
  • Home loans
  • Personal loans
  • Credit cards
  • Checking & Savings
  • SoFi Protect (Insurance)
  • Estate planning
  • SoFi Invest
  • SoFi Relay (Spend management)
  • Small business finance
  • Galileo (Cloud platform)
Services
List of services
  • Online lending
  • Mobile & online banking
  • Stockbroking
  • Insurance broking
  • Wealth management
  • Banking as a service
RevenueIncrease US$2.67 billion (2024)
Increase US$499 million (2024)
Total assetsIncrease US$36.25 billion (2024)
Total equityIncrease US$6.53 billion (2024)
Members
  • Increase 10.1mn customers
  • Increase 168mn platform accounts
 (2024)
Number of employees
Neutral increase c. 5,000 (2024)
Divisions
  • Lending
  • Financial services
  • Technology platform
Subsidiaries
List of subsidiaries
  • Galileo Fin. Tech. LLC
  • Social Finance Inc.
  • SoFi Bank N.A.
  • SoFi Lending Corp.
Websitesofi.com
Footnotes / references
[1][2][3]

SoFi Technologies, Inc. (abbreviated as SoFi) is an American personal finance and financial technology company.[4] Founded in 2011 at Stanford University,[5][6] it operates as a direct bank and supports other financial institutions through its technology platform.[7][8][9] As of 2024, SoFi reports 10.1 million customers and 168 million platform accounts.[10]

In its early years, SoFi focused on providing student loans, using data science to assess risk and offer borrowers lower interest rates.[11] Over time, the company expanded its offerings to include mortgages, personal loans, auto loans, credit cards, stock investing, insurance, estate planning and bank accounts, ultimately obtaining a U.S. bank charter.[7][12] SoFi also made acquisitions and began supporting other financial institutions through its technology platform in this period.[8][9]

  1. ^ "SoFi Technologies, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 27 February 2024.
  2. ^ "SoFi Technologies, Inc. Form 10-Q for the quarter ending June 30, 2024". U.S. Securities and Exchange Commission. 6 August 2024.
  3. ^ "Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2024". U.S. Securities and Exchange Commission. 24 February 2025.
  4. ^ Gravier, Elizabeth (2024-04-05). "SoFi Invest review: Trade stocks, ETFs, buy fractional shares and participate in IPOs". CNBC. Retrieved 2024-08-18.
  5. ^ Andriotis, AnnaMaria (2014-10-07). "Peer-to-Peer Lender SoFi to File for IPO". The Wall Street Journal. Retrieved 2024-10-23.
  6. ^ Kadlec, Dan (2012-04-02). "Student Loans: For a Great Deal, Borrow from Alumni". Time. ISSN 0040-781X. Retrieved 2024-10-23.
  7. ^ a b Snyder, Kristy (2024-08-31). "SoFi review: earn up to 4.60% APY on free savings accounts". Fortune. Retrieved 2024-08-31.
  8. ^ a b Shen, Lucinda (2024-06-30). "SoFi shifts its revenue mix". Axios.com. Retrieved 2024-08-31.
  9. ^ a b Cite error: The named reference :18 was invoked but never defined (see the help page).
  10. ^ SoFi Technologies, Inc. (2025-01-27). "SoFi Technologies Reports Net Revenue of $734 Million and Net Income of $332 Million for Q4 2024, Demonstrating Durable Growth and Strong Returns". Financial Times. Retrieved 2025-01-29.
  11. ^ Lashinsky, Adam. "How SoFi Is Beating Banks At Lending". Fortune. Retrieved 2024-08-19.
  12. ^ Hamilton, Jesse (2022-01-19). "SoFi Rises After Regulator Approves U.S. Bank Charter". www.bloomberg.com. Retrieved 2024-08-20.

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