SoFi Technologies, Inc. has finalized a significant agreement with Blue Owl Capital for its Loan Platform Business. The deal, valued at up to $5 billion, involves personal loans and is the largest of its kind for SoFi to date.
The Loan Platform Business model allows SoFi to refer pre-qualified borrowers to loan origination partners and originate loans on behalf of third parties. This two-year agreement with funds managed by Blue Owl Capital reflects an increasing demand for personal loans among members and debt investors. It aligns with SoFi's strategy to diversify revenue streams towards less capital-intensive, fee-based sources.
Anthony Noto, CEO of SoFi, expressed enthusiasm about the collaboration: “This represents the largest single commitment for SoFi’s Loan Platform Business and is 2x our first commitment, enabling us to help more members get their money right while also diversifying toward less capital-intensive and more fee-based sources of revenue,” he said. He further noted that they are "thrilled to work with Blue Owl Capital."
Ivan Zinn from Blue Owl also commented on the partnership: “Blue Owl is excited to be partnering with SoFi to help meet the growing needs of customers through their loan platform business,” he stated. He acknowledged SoFi's role in expanding credit access through innovative solutions.
In 2024 alone, SoFi's Loan Platform Business originated $2.1 billion in loans. Through this platform, SoFi earns fees by originating loans on behalf of partners while retaining servicing rights.
SoFi provides a comprehensive range of financial products aimed at helping over 10 million members manage their finances effectively. Their offerings include lending services as well as checking and savings accounts, investment opportunities, credit cards, protection plans, and financial insights tools.
Blue Owl Capital is recognized as a leading asset manager with over $250 billion under management as of December 31, 2024. They invest across three multi-strategy platforms—Credit, GP Strategic Capital, and Real Assets—and aim to deliver strong performance and risk-adjusted returns.
Both companies encourage interested parties to visit their respective websites for further information about their services and updates.