SoFi Technologies, Inc. (SoFi)

Traded asNasdaq: SOFI
IndustryPersonal finance, Software
FoundedAugust 2011;
FoundersMike Cagney Dan Macklin James Finnigan Ian Brady
HeadquartersSan Francisco, California, U.S.
  • Products: Student loans – Home loans – Personal loans – Stockbroker – Wealth management – Credit card
    • SoFi Technologies, Inc. (now the parent company of Social Finance, Inc.) is an American online personal finance company.
    • SoFi provides financial products that includes student loan refinancing, mortgages, personal loans, credit card, investing, and banking through both mobile app and desktop interfaces.


  • Lending
    • Personal loans, student loans, home loans, and loan refinancing.
    • SoFi uses an underwriting model that examines free cash flow, professional history and education in addition to a history of responsible bill payment to evaluate its borrowers.
  • Trading
    • In 2018, SoFi began to offer commission and fee-free trading of stocks and exchange-traded funds.
    • In 2019, SoFi introduced their own robo advisor service called SoFi Automated Investing, charging no management fees.
    • Cryptocurrency trading
      • In February 2019, SoFi announced they'd be partnering with Coinbase to offer cryptocurrency trading.
      • Cryptocurrency transactions are one of SoFi's only products that have fees, currently set at a 1. 25% markup.
  • Banking
    • SoFi currently offers an online cash management account that acts as a hybrid checking/savings account.
    • They achieve FDIC insurance through their partner banks: MetaBank, Hills Bank and Trust Company, EagleBank, East West Bank, Tristate Bank Capital Bank, and Wells Fargo.
  • Credit Score Monitoring & Budgeting Tool
    • The service allows users to track their money in bank, credit card, investment, and loan balances and transactions.
    • No-cost credit score tracking with weekly updates is provided through TransUnion.

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