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SoFi and PGIM Fixed Income Announce $525 Million Securitization Agreement, Signaling Continued Demand for Personal Loans

By: via Business Wire

Partners’ Largest Transaction To-Date is Second in a Series of Continued Investments by PGIM

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 $525 million personal loan securitization agreement closed in Q4 2024 with funds and accounts managed by PGIM Fixed Income, one of the largest global fixed income managers – with $859 billion in assets under management (AUM), including $120 billion in public and private securitized credit AUM.

The transaction follows a $350 million investment from PGIM in May 2024. It builds on the $3.9 billion in personal loan collateral SoFi sold or securitized to-date through the end of Q3 2024, illustrating the value of the company’s leading personal loan business.

Edwin Wilches, Managing Director and co-Head of Securitized Products at PGIM Fixed Income, said, “SoFi’s personal loans represent an attractive investment opportunity for PGIM, and we’re thrilled to deepen our relationship with the company. We continue to expand our platform as an asset-based finance lender and source investments that provide compelling risk-adjusted returns for our clients with partners who put their customers first.”

“The investor demand we see for SoFi’s personal loans underscores the quality and strength of our lending business, which continues to contribute meaningfully to our durable growth,” said Anthony Noto, CEO of SoFi. “We are grateful for PGIM’s longstanding partnership as we help more of our members get their money right.”

Today’s news comes on the heels of strong demand for SoFi’s loans in the capital markets, with a range of transactions representing partners’ unique investment goals. For example, in Q4 2024, the company announced a $2 billion agreement with Fortress Investment Group to expand its loan platform business, where the company refers pre-qualified borrowers to loan origination partners and originates loans on behalf of third parties – a key example of SoFi’s diversified funding program.

For more information on SoFi, please visit www.sofi.com.

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps 10 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

SOFI-F

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