-

SoFi and BlackRock Partner on $375 Million Personal Loan Securitization

SAN FRANCISCO--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, today announced an agreement to place a $375 million personal loan securitization exclusively with funds and accounts managed by BlackRock (NYSE: BLK) investment advisors.

“Our access to different sources of capital is a critical component to growing our lending capabilities and better serving our members,” said Anthony Noto, CEO of SoFi. “BlackRock’s great collaboration, seamless execution, and ability to invest across the entire capital structure made them an exceptional partner.”

To date, SoFi has sold over $14.5 billion and securitized over $13.7 billion of personal loan collateral.

The transaction issuer will be SoFi Personal Loan Trust 2023-1 and is backed by a pool of SoFi personal loan collateral. The transaction is expected to settle by mid-November.

“SoFi has built a strong platform by focusing on its members and continually innovating to meet their needs. We are excited to help them grow their lending business while at the same time accessing differentiated investment opportunities, which is an important part of the value proposition for our clients,” said Gary Shedlin, Vice Chairman, BlackRock.

Advisor and Initial Purchaser to this transaction is Citi.

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 6.9 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, Credentialed Financial Planners (CFP®), exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

#SOFI-F

Contacts

PR@sofi.com

Industry:

SoFi Technologies

NASDAQ:sofi
Release Versions
English
$Cashtags
$SOFI

Contacts

PR@sofi.com

More News From SoFi Technologies

SoFi, Kelsea Ballerini, and CMA Launch Amplify Your Ambitions Contest to Empower America’s Next Generation of Emerging Artists

SAN FRANCISCO--(BUSINESS WIRE)--SoFi, the one-stop shop for digital financial services, is launching the “Amplify Your Ambitions” Contest, a nationwide search to discover emerging artists as they pursue their ambitions and advance their careers, in partnership with the Country Music Association (CMA) and multi-platinum songwriter, producer, and author Kelsea Ballerini, a five-time GRAMMY® Award nominee and multiple ACM and CMA Award winner. Starting today through April 30, artists can enter for...

SoFi Brings Financial Education to College Students with Future Wealth Summit

SAN FRANCISCO--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI), the one-stop shop for digital financial services, today announced the launch of the Future Wealth Summit, a national campus tour designed to help college students navigate key financial decisions, from managing spending and building credit to planning for life after graduation. The program will be activated at more than 30 colleges and universities nationwide throughout April’s Financial Literacy Month, with the flagship ev...

SoFi Launches Big Business Banking to Power Fiat and Crypto Banking on a Single Regulated Platform

SAN FRANCISCO--(BUSINESS WIRE)--SoFi Technologies, Inc. (NASDAQ: SOFI), the one-stop shop for digital financial services, today announced the launch of SoFi Big Business Banking, a new offering that gives enterprise partners the ability to manage both fiat and crypto banking from a single, nationally chartered bank. This launch builds on SoFi’s integration of blockchain into its core platform. Over the last year, SoFi has enabled members to buy, sell and hold crypto, launched SoFiUSD, and built...
Back to Newsroom