SoFi Technologies, Inc. (NASDAQ: SOFI) finalized an up to $5 billion Loan Platform Business agreement for personal loans with funds managed by Blue Owl Capital, an asset manager with $250 billion+ in assets under management.
This move reportedly marks SoFi’s “largest” Loan Platform Business agreement to date.
SoFi’s Loan Platform Business refers “pre-qualified borrowers to loan origination partners as well as originates loans on behalf of third parties.”
The two-year deal with Blue Owl Capital managed funds “reflects the growing demand for personal loans from members and debt investors and advances SoFi’s strategy to diversify revenue streams with less capital-intensive and more fee-based sources of revenue.”
Anthony Noto, CEO of SoFi said:
“This represents the largest single commitment for SoFi’s Loan Platform Business and is 2x our first commitment, enabling us to help more members get their money right while also diversifying toward less capital-intensive and more fee-based sources of revenue. We’re thrilled to work with Blue Owl Capital and build on the strong momentum in our Loan Platform Business in 2025.”
In 2024, SoFi’s Loan Platform Business originated “$2.1 billion of loans.”
Through its Loan Platform Business, SoFi earns “fee income to originate loans on behalf of partners while retaining servicing rights.”
As noted in the update, 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 over 10.1 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.”
As covered, SoFi explains that it 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.”
As mentioned in the announcement, Blue Owl is an asset manager that is focused on “redefining alternatives.”
With over $250 billion in assets under management as of December 31, 2024, they reportedly invest “across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets.”
Anchored by a permanent capital base, they aim to “provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.”