SoFi and BlackRock Partner on $375 Million Personal Loan Securitization
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“Our access to different sources of capital is a critical component to growing our lending capabilities and better serving our members,” said Anthony Noto, CEO of SoFi. “BlackRock’s great collaboration, seamless execution, and ability to invest across the entire capital structure made them an exceptional partner.”
To date, SoFi has sold over
The transaction issuer will be SoFi Personal Loan Trust 2023-1 and is backed by a pool of SoFi personal loan collateral. The transaction is expected to settle by mid-November.
“SoFi has built a strong platform by focusing on its members and continually innovating to meet their needs. We are excited to help them grow their lending business while at the same time accessing differentiated investment opportunities, which is an important part of the value proposition for our clients,” said Gary Shedlin, Vice Chairman, BlackRock.
Advisor and Initial Purchaser to this transaction is Citi.
About SoFi
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 6.9 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Credentialed Financial Planners (CFP®), exclusive experiences and events, and a thriving community – on their path to financial independence.
SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.
About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231030408444/en/
Source: SoFi Technologies
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