Reported about 7 hours ago
SoFi Technologies has secured an agreement to utilize $2 billion from Fortress Investment Group for the origination of personal loans. This deal aims to enhance SoFi's loan platform business, allowing the online bank to broker deals for pre-qualified borrowers and originate loans on behalf of others. CEO Anthony Noto emphasized that this strategy diversifies revenue sources while meeting financial needs, leading to a 7% rise in SoFi's stock following the announcement.
Source: YAHOO