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5.0
SoFi Technologies Inc. operates in the "Other" sector, within the digital financial services industry, and was founded in 2011, in the United States, by Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady.
Headquartered in San Francisco, California, the company positions itself as a financial technology platform, offering products and services focused on credit management, investments, and digital banking operations.
SoFi’s portfolio includes a wide range of financial services such as student and personal loans, mortgages, digital accounts, investments, credit cards, and financial planning.
In addition, the company provides solutions for financial institutions through SoFi Bank and the Galileo technology platform, which enables the integration of digital banking and payment services.
With a predominantly U.S.-based presence, SoFi aims to expand its footprint in the digital financial market, competing with traditional banks and fintechs.
Its fully digital platform delivers services without the need for physical branches, providing a user experience based on technology and automation.
The company’s growth has been driven by the increased demand for digital financial solutions, automated investments, and loans with competitive rates.
Moreover, the acquisition of Galileo Financial Technologies in 2020 strengthened its position in the payments infrastructure and banking-as-a-service (BaaS) market.
SoFi’s operational structure is made up of tech centers, corporate offices, and digital platforms, employing thousands of professionals specialized in finance and technology.
The company also invests in strategies to expand its user base and improve the security of its services.
SoFi Technologies Inc. shares are traded on the Nasdaq under the ticker SOFI.
History and when SoFi Technologies Inc. was founded
The journey of SoFi Technologies Inc. began in 2011, when Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady, then students at Stanford University, developed a crowdfunding model for student loans.
The initial goal was to create an affordable alternative with more attractive rates for students and recent graduates. In the early years, the company focused on refinancing student loans, expanding its customer base and consolidating its reputation in the financial sector.
Some of the company’s key milestones include:
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2017: Mike Cagney steps down as SoFi's CEO, leading to a restructuring of corporate management.
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2020: Acquisition of Galileo Financial Technologies, strengthening its financial services infrastructure.
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2021: Initial Public Offering (IPO) through a SPAC merger with Social Capital Hedosophia, boosting its visibility in capital markets.
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2022: Obtains a banking license in the U.S., enabling the company to offer a broader range of financial products and solidify its position as a digital bank.
In recent years, from 2020 to 2024, SoFi has expanded its customer base, broadened its service offerings, and invested in enhancing the digital experience.
The company’s strengthened brand in the financial technology sector has positioned it as one of the leading fintechs in the U.S. market.
Currently, SoFi Technologies Inc. continues to invest in innovation and the expansion of its financial services, adapting to the changes in the digital banking industry and seeking new growth opportunities.
Additional Information
The Company SoFi Technologies Inc. (United States), is listed on Nasdaq with a market cap of $ 32.53 Billions, having an equity of $ 8.78 Billions.
The Company is listedthe in the sector of Others and categorized in industry of Others.
In the last 12 months the Company had a revenue of $ 3.32 Billions, which generated a profit in the amount of $ 640.24 Millions.
As for its main indicators, the Company has a P/E ratio of 50.81, a P/BV ratio of 3.71 and in the last 12 months the Company did not pay dividends.
The Company is traded internationally through the ticker SOFI.
