SoFi Technologies (SOFI) announced a $2B 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 $2B Loan Platform Business agreement between SoFi and Fortress announced in October 2024,” the company said. SoFi also signed a two-year agreement to originate an additional $1.2B 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 $5B, SoFi stated. “Our continued collaboration with Fortress is a testament to the success, strength and scalability of our Loan Platform Business. The additional $3.2B commitment helps us better meet borrower demand for personal loans while moving SoFi towards less capital-intensive and more fee-based sources of revenue. We’re building strong momentum for our Loan Platform Business in 2025 and beyond,” said Anthony Noto, CEO of SoFi.
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