SoFi Technologies, Inc. has announced that it now serves over 10 million members through its range of digital financial services. The company reported a significant increase in its member base by nearly 2.5 million in 2024 alone, achieving more than ninefold growth in less than five years.

The members have collectively made substantial progress toward financial independence, earning $1 billion in interest on savings and paying down $33 billion in credit card debt as of September 30, 2024. Additionally, they have borrowed $117 billion to support various ambitions, including refinancing student loans and funding home loans.

"Hitting the 10 million member mark is more than just a number," stated Anthony Noto, CEO of SoFi. "This milestone represents the tangible ways we’ve helped our members get their money right on their path to financial independence – whether that’s paying down debt, buying their first home, or making investments for the future."

In 2024, SoFi introduced several new products to assist members with managing their finances effectively. These include a robo-advisor platform, access to alternative assets, early access to IPOs, and expanded options for money movement for those banking with SoFi Money.

The company remains focused on delivering resources and community support necessary for its members' success while continuing to innovate across its business segments: Lending, Financial Services, and Technology Platform.

SoFi is regulated by federal entities such as the OCC and FDIC and operates under a bank holding company structure overseen by the Federal Reserve. The company also holds naming rights for SoFi Stadium in Los Angeles.