Sovi obtained agreements which represent an expansion of $ 3.2 billion to its loan platform activity, which refers to prequalified borrowers for loan creation partners and comes from loans in the name of third parties.
An agreement includes an extension of $ 2 billion in a precedent agreement For personal loans with funds Managed by Global Investment Manager affiliates Fortress investment groupwhile The other implies that Sofi has an additional $ 1.2 billion of loans with technology fueled by a joint venture between the fortress and the technology investment company On -board focusSofi said in a Thursday, April 17) press release.
The extension announced in the press release is based on an agreement of $ 2 billion between Sofi and Fortress which was announced in October, according to the press release.
“The additional commitment of $ 3.2 billion helps us to better meet the borrower’s demand for personal loans while moving Sofi to fewer sources of income with high capital and more expenses,” said Sofi CEO Anthony Noto said in the press release. “We create a strong dynamic for our loan platform activity in 2025 and beyond.”
Dominick RuggieroWorld Co-Co-Global of assets credit to the fortress, said in the press release that the Extension of the agreement Reflects the confidence of the fortress in offers of Sofi consumer loan products.
“We are delighted to expand this mutually beneficial partnership which contributes to increasing the availability of personal loans for consumers and creates an opportunity for convincing investment,” said Ruggiero.
Sofi and Fortress Investment Group announced their original loan platform activity of $ 2 billion agreement in October.
In March, Sofi finalized a agreement with an asset manager Blue Owl Capital It is Is worth at least 5 billion dollars and will allow Sofi to expand its loan platform activity.
The company said at the time In a press release, the two -year agreement with Blue OWL reflects a growing demand for personal loans to debt members and investors.
“Blue OWL is delighted to associate itself with Sofi to help meet the growing needs of customers thanks to their loan platform business,” said Ivan Zinn, head of alternative credit to Blue Owl, in the March 13 press release. “Sofi has expanded credit access to more people with innovative solutions. We see a strong opportunity In be part of this growth thanks to this strategic program. »»