SoFi Technologies announced a $2 billion extension of its Loan Platform Business agreement for personal loans with funds managed by affiliates of Fortress Investment Group. This extension builds on the original $2 billion agreement between SoFi and Fortress announced in October 2024.
Additionally, SoFi signed a two-year agreement to originate an additional $1.2 billion in loans, with technology powered by a joint venture between Fortress and Edge Focus. The total commitment provided by Fortress for SoFi’s Loan Platform Business has now reached over $5 billion.
CEO Anthony Noto stated that this additional commitment helps meet borrower demand for personal loans while moving SoFi towards less capital-intensive and more fee-based revenue sources, strengthening its diversified business model.
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