SoFi Technologies, a digital financial service provider, has finalized a loan platform agreement worth up to $5 billion with funds managed by Blue Owl Capital. This two-year agreement, the largest for SoFi’s Loan Platform Business to date, will support the growing demand for personal loans and aligns with SoFi’s strategy to diversify revenue through fee-based services. SoFi’s Loan Platform Business facilitates personal loans by referring pre-qualified borrowers to partners and originating loans on behalf of third parties. In 2024, the platform originated $2.1 billion in loans. Through this collaboration, SoFi aims to expand credit access while maintaining servicing rights and earning fee income.
Ivan Zinn, Head of Alternative Credit at Blue Owl, said, “Blue Owl is excited to be partnering with SoFi to help meet the growing needs of customers through their loan platform business. SoFi has been expanding credit access to more people with innovative solutions. We see a strong opportunity in being part of this growth through this strategic program.” Both companies view the agreement as a strategic step to address increasing consumer demand and enhance their respective positions in the financial services sector.
