SoFi Expands Loan Platform Business With $2B Agreement With Fortress Investment Group, Expanding SoFi's Capabilities In Its Loan Platform Business, Where The Company Refers Pre-Qualified Borrowers To Loan Origination Partners As Well As Originates Loans On Behalf Of Third Parties

Benzinga · 10/14 12:12

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 a $2 billion loan platform business agreement for personal loans with funds managed by affiliates of Fortress Investment Group LLC ("Fortress"). The agreement will expand SoFi's capabilities in its loan platform business, where the company refers pre-qualified borrowers to loan origination partners as well as originates loans on behalf of third parties.