SoFi Technologies Inc. has stepped into the spotlight with its most impressive quarter to date, recording a historic $7 billion in personal-loan originations and a 34% leap in new memberships. With total revenue up 44% and earnings beating estimates, the digital finance firm has raised its full-year forecast and continues to expand its product range. As traditional banks watch from the sidelines, SoFi’s smooth, sharp, and steady rise signals a bold shift in modern banking’s next big chapter.
STORY HIGHLIGHTS
-
Personal loans at $7 billion, up 66%
-
Student loans hit $1 billion, up 35%
-
Home loans near $800 million, up 92%
-
850,000 new members added, up 34% YoY
-
Revenue at $858 million, up 44%, beating estimates
-
Earnings per share: 8 cents, vs. 6-cent consensus
-
2025 target: 3 million new members
-
New full-year guidance: $3.375 billion in adjusted revenue
SoFi Technologies Inc., the San Francisco-based financial-technology company, has marked a major milestone in its business expansion, reporting the highest loan origination and member growth in its history. In a sector where traditional banks continue to grapple with changing consumer behavior, SoFi’s performance signals a steady shift in momentum toward digital-first finance platforms.
In the second quarter, SoFi originated $7 billion in personal loans—an increase of 66% over the same period last year. This surge was accompanied by a 35% jump in student loan originations, reaching $1 billion, and a 92% rise in home-loan originations, which stood at around $800 million.
The company attributes much of this growth to new product innovations tailored to evolving customer needs. A personal loan designed for prime credit-card holders and the rollout of a home-equity offering were both cited as key drivers. These products are part of what SoFi described as an “expanded product roadmap,” which has helped the company diversify its appeal across lending categories.