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SoFi Technologies, Inc. - SOFI STOCK NEWS

Welcome to our dedicated page for SoFi Technologies news (Ticker: SOFI), a resource for investors and traders seeking the latest updates and insights on SoFi Technologies stock.

SoFi Technologies, Inc. (symbol: SOFI) is a forward-thinking financial services company founded in 2011 and headquartered in San Francisco. Initially renowned for its student loan refinancing, SoFi has significantly broadened its product lineup to cater to a wide array of financial needs. Today, SoFi offers personal loans, credit cards, mortgages, investment accounts, banking services, and comprehensive financial planning, making it a one-stop financial hub for its members.

One of SoFi's standout features is its commitment to empowering members to achieve financial greatness through innovative products and exceptional service. The company operates primarily through its user-friendly mobile app and website, providing fast, seamless access to financial tools and services.

In 2020, SoFi expanded its capabilities by acquiring Galileo Financial Technologies, a move that strengthened its infrastructure for payment processing and digital banking. This acquisition allows SoFi to offer enhanced debit card services and account management solutions.

Recent Achievements and Current Projects:

  • SoFi has continued to innovate with new product launches and updates, including improved investment tools and expanded banking features.
  • The company has forged strategic partnerships to enhance its service offerings and reach.
  • SoFi maintains a strong focus on community engagement, providing resources and support to help members succeed in their financial journeys.

SoFi's financial condition remains robust, underpinned by a clear strategy for growth and a commitment to delivering value to its members. The company's recent initiatives and partnerships reflect its dedication to being a leader in the financial services sector.

For the latest updates and in-depth information about SoFi Technologies, Inc., including performance metrics and recent developments, visit their official website or follow their news releases.

Rhea-AI Summary
SoFi Technologies, Inc. has announced an agreement to place a $375 million personal loan securitization with BlackRock. This will help SoFi grow its lending capabilities and better serve its members. SoFi has sold over $14.5 billion and securitized over $13.7 billion of personal loan collateral to date. The transaction is expected to settle by mid-November.
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SoFi Technologies, Inc. reported record financial results for Q3 2023. GAAP net revenue was $537 million, up 27% YoY. Adjusted net revenue was $531 million, also up 27% YoY. Adjusted EBITDA reached $98 million, up 121% YoY. New member adds were over 717,000, bringing total members to over 6.9 million, a 47% YoY growth. Total deposit growth was $2.9 billion, up 23% during the quarter. Tangible book value grew by $68 million in the quarter and $171 million on a trailing 12-month basis. Full-year 2023 guidance was raised by management.
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Galileo Financial Technologies is offering the Galileo Payment Risk Platform to the entire financial services ecosystem, allowing companies to proactively reduce fraud losses and minimize payment risks.
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Athletico Physical Therapy and SoFi at Work announce a new partnership to help clinicians pay down student loan debt faster.
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Galileo Financial Technologies launches Galileo Corporate Credit solution to simplify expense management
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SoFi Invest announces a 1% IRA match on IRA contributions to accelerate retirements
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SoFi Invest announces a 1% IRA match on IRA contributions to help accelerate members' retirements.
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SoFi launches new brand campaign to help members achieve their financial ambitions.
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Galileo Financial Technologies announces its Galileo Buy Now, Pay Later (BNPL) offering is now available for lenders to offer it as a service for their small business clients. Banks and fintechs working with Galileo can provide installment financing options to SMBs via Mastercard Installments, offering more flexibility for big purchases and cash flow management.
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SoFi Technologies, Inc. (NASDAQ: SOFI) will host a conference call to discuss Q3 2023 financial results on October 30, 2023. Results will be released on the investor relations section of their website. No concrete business takes affecting stock price were mentioned.
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FAQ

What is the current stock price of SoFi Technologies (SOFI)?

The current stock price of SoFi Technologies (SOFI) is $15.63 as of December 23, 2024.

What is the market cap of SoFi Technologies (SOFI)?

The market cap of SoFi Technologies (SOFI) is approximately 16.6B.

What services does SoFi Technologies, Inc. offer?

SoFi offers a range of financial services including personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning.

When was SoFi Technologies, Inc. founded?

SoFi was founded in 2011.

Where is SoFi Technologies, Inc. headquartered?

SoFi is headquartered in San Francisco, California.

What was SoFi initially known for?

SoFi was initially known for its student loan refinancing services.

How does SoFi primarily operate?

SoFi operates primarily through its mobile app and website.

What is the significance of SoFi's acquisition of Galileo Financial Technologies?

The acquisition of Galileo Financial Technologies in 2020 enhanced SoFi's capabilities in payment processing and digital banking services.

What recent innovations has SoFi introduced?

SoFi has introduced new investment tools, expanded banking features, and strategic partnerships to enhance its service offerings.

How does SoFi support its members?

SoFi supports its members through community engagement, providing resources and tools to help them achieve financial success.

What can you find on SoFi's official website?

You can find the latest updates, performance metrics, and detailed information about SoFi's services and recent developments.

What is SoFi's mission?

SoFi's mission is to empower its members to achieve financial greatness through innovative products and exceptional service.

SoFi Technologies, Inc.

Nasdaq:SOFI

SOFI Rankings

SOFI Stock Data

16.60B
1.04B
3.2%
43.78%
13.7%
Credit Services
Finance Services
Link
United States of America
SAN FRANCISCO