SoFi Expands Loan Platform Business with $2 Billion Agreement with Fortress Investment Group
SoFi Technologies, Inc. (NASDAQ: SOFI) has announced a $2 billion loan platform business agreement for personal loans with funds managed by affiliates of Fortress Investment Group . This agreement will expand SoFi's capabilities in its loan platform business, where the company refers pre-qualified borrowers to loan origination partners and originates loans on behalf of third parties.
SoFi CEO Anthony Noto emphasized that the loan platform business is important to their strategy of serving more members' financial needs and diversifying towards less capital-intensive and more fee-based revenue sources. Dominick Ruggiero, Co-Head of Specialty Finance at Fortress, expressed excitement about the partnership, citing SoFi's focus on innovation and valuable credit solutions as compelling investment opportunities for Fortress's funds.
SoFi Technologies, Inc. (NASDAQ: SOFI) ha annunciato un accordo per una piattaforma di prestiti di 2 miliardi di dollari per prestiti personali con fondi gestiti da affiliate di Fortress Investment Group. Questo accordo espanderà le capacità di SoFi nel suo business di piattaforma di prestiti, dove l'azienda indirizza i mutuatari pre-qualificati ai partner di origine prestiti e origina prestiti per conto di terzi.
Il CEO di SoFi, Anthony Noto, ha sottolineato che il business della piattaforma di prestiti è importante per la loro strategia di soddisfare le esigenze finanziarie di un numero maggiore di membri e diversificare verso fonti di ricavo meno intensive in capitale e più basate su commissioni. Dominick Ruggiero, Co-Head di Specialty Finance presso Fortress, ha espresso entusiasmo per la partnership, citando il focus di SoFi sull'innovazione e soluzioni creditizie preziose come opportunità d'investimento interessanti per i fondi di Fortress.
SoFi Technologies, Inc. (NASDAQ: SOFI) ha anunciado un acuerdo por una plataforma de préstamos de 2 mil millones de dólares para préstamos personales con fondos gestionados por afiliados de Fortress Investment Group. Este acuerdo ampliará las capacidades de SoFi en su negocio de plataforma de préstamos, donde la empresa remite a prestatarios pre-calificados a socios de originación de préstamos y origina préstamos en nombre de terceros.
El CEO de SoFi, Anthony Noto, enfatizó que el negocio de la plataforma de préstamos es importante para su estrategia de atender las necesidades financieras de más miembros y diversificarse hacia fuentes de ingresos menos intensivas en capital y más basadas en comisiones. Dominick Ruggiero, Co-Head de Specialty Finance en Fortress, expresó su entusiasmo por la asociación, destacando el enfoque de SoFi en la innovación y soluciones crediticias valiosas como oportunidades de inversión atractivas para los fondos de Fortress.
소피 테크놀로지스, Inc. (NASDAQ: SOFI)는 20억 달러 규모의 개인 대출 플랫폼 비즈니스 계약을 포트리스 인베스트먼트 그룹의 자회사들이 관리하는 자금과 체결했다고 발표했습니다. 이 계약은 소피의 대출 플랫폼 사업 능력을 확장할 것이며, 회사는 사전 심사가 완료된 차용인을 대출 원천 파트너에게 소개하고 타인을 대신하여 대출을 기원합니다.
소피의 CEO인 앤서니 노토는 대출 플랫폼 사업이 더 많은 회원들의 재정적 요구를 충족하고 자본 집약도가 낮고 수수료 기반 수익원으로 다변화하기 위한 전략에 중요하다고 강조했습니다. 포트리스의 전문 금융 공동 책임자인 도미닉 루기에는 이 파트너십에 대한 기대감을 표명하며, 소피의 혁신에 대한 집중과 가치 있는 신용 솔루션이 포트리스 자금에 대한 매력적인 투자 기회로 작용한다고 언급했습니다.
SoFi Technologies, Inc. (NASDAQ: SOFI) a annoncé un accord de plateforme de prêt d'un montant de 2 milliards de dollars pour des prêts personnels avec des fonds gérés par des affiliés de Fortress Investment Group. Cet accord élargira les capacités de SoFi dans son activité de plateforme de prêt, où l'entreprise dirige des emprunteurs préqualifiés vers des partenaires d'octroi de prêts et octroie des prêts pour le compte de tiers.
Le PDG de SoFi, Anthony Noto, a souligné que l'activité de la plateforme de prêt est essentielle à leur stratégie visant à répondre aux besoins financiers d'un plus grand nombre de membres et à se diversifier vers des sources de revenus moins intensives en capital et davantage basées sur les frais. Dominick Ruggiero, Co-Head de Specialty Finance chez Fortress, a exprimé son enthousiasme pour le partenariat, citant l'accent mis par SoFi sur l'innovation et des solutions de crédit précieuses comme des opportunités d'investissement attrayantes pour les fonds de Fortress.
SoFi Technologies, Inc. (NASDAQ: SOFI) hat eine Vereinbarung über eine Kreditplattform im Wert von 2 Milliarden Dollar für Privatkredite mit von Fortress Investment Group verwalteten Fonds bekannt gegeben. Diese Vereinbarung wird die Möglichkeiten von SoFi im Kreditplattformgeschäft erweitern, wo das Unternehmen vorqualifizierte Kreditnehmer an Kreditvermittlungs-Partner verweist und Kredite im Namen Dritter vergibt.
Der CEO von SoFi, Anthony Noto, betonte, dass das Geschäft der Kreditplattform wichtig für ihre Strategie ist, die finanziellen Bedürfnisse von mehr Mitgliedern zu bedienen und sich in Richtung weniger kapitalintensiver und gebührenbasierter Einnahmequellen zu diversifizieren. Dominick Ruggiero, Co-Head von Specialty Finance bei Fortress, äußerte seine Begeisterung über die Partnerschaft und nannte Sofis Fokus auf Innovation und wertvolle Kreditlösungen als überzeugende Investitionsmöglichkeiten für die Fonds von Fortress.
- Secured a $2 billion loan platform business agreement with Fortress Investment Group
- Expansion of loan platform business capabilities
- Diversification towards less capital-intensive and more fee-based revenue sources
- Strong demand for SoFi's loan platform business
- None.
Insights
SoFi's
Key points to consider:
- Diversification of revenue sources, potentially leading to more stable earnings
- Reduced capital requirements, which could improve return on equity
- Expansion of SoFi's market reach through third-party loan originations
- Potential for increased transaction volume without proportional increase in risk
This partnership could positively impact SoFi's profitability and growth trajectory, making it an important development for investors to monitor. However, the success will depend on the execution and scalability of this expanded loan platform model.
The
- Growing demand for personal loans in the current economic climate
- Increasing collaboration between fintech platforms and traditional financial institutions
- Shift towards "Banking-as-a-Service" models in the financial industry
This move positions SoFi to capitalize on these trends, potentially expanding its market share and competitive advantage. The partnership with Fortress, a respected investment management firm, also adds credibility to SoFi's loan platform business. Investors should watch for:
- Changes in SoFi's revenue mix and profit margins
- Growth in loan origination volumes and user acquisition metrics
- Potential for similar partnerships in the future, indicating scalability of the model
Overall, this agreement could be a catalyst for SoFi's growth and market position in the evolving fintech landscape.
“SoFi’s loan platform business is an important part of our strategy to serve the financial needs of more members and diversify toward less capital-intensive and more fee-based sources of revenue,” said Anthony Noto, CEO of SoFi. “We’re pleased to see continued strong demand for SoFi’s loan platform business. Fortress’ collaboration, seamless execution, and appreciation of the platform's value proposition makes them an exceptional partner.”
“Fortress is pleased to partner with SoFi to support the growth of the company’s loan platform business,” added Dominick Ruggiero, Co-Head of Specialty Finance at Fortress. “SoFi’s platform – and its focus on innovation and providing valuable credit solutions to its members – create a compelling investment opportunity for Fortress’s funds. We are excited about building a mutually beneficial partnership with SoFi.”
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 nearly 8.8 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 credentialed financial planners, 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 Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages
The Fortress Asset-Based Credit business provides capital solutions to specialty finance companies, lending against and investing in a broad spectrum of consumer receivables, small commercial receivables and other contractual cash flow streams. With over two decades of experience as an active investor in the space, the team focuses primarily on originating businesses in the US and
Availability of Other Information About SoFi
Investors and others should note that we communicate with our investors and the public using our website (https://www.sofi.com), the investor relations website (https://investors.sofi.com), and on social media (Twitter and LinkedIn), including but not limited to investor presentations and investor fact sheets, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that SoFi posts on these channels and websites could be deemed to be material information. As a result, SoFi encourages investors, the media, and others interested in SoFi to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on SoFi’s investor relations website and may include additional social media channels. The contents of SoFi’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20241014457720/en/
For SoFi: PR@sofi.org
For Fortress: Media@fortress.com
Source: SoFi Technologies
FAQ
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