SoFi recently topped $25 billion in loan originations, according to a tweet by the Fintech platform.. The company also claims a growing community of just under 400,000 users. The online lender skipped over the standard milestone release and shared the information via social media. The positive news comes at a time when SoFi probably would like a bit more uplifting commentary about the company as events have caused a massive change at the top and strategic direction, including a decision to bail on pursuing a national bank license.
A new milestone: we’ve surpassed $25b in loan originations! Thank you to our community of over 390,000 people for growing with us. pic.twitter.com/dtDIILtQ4r
— SoFi (@SoFi) October 24, 2017
If you compare SoFi to some of the more prominent marketplace lenders, SoFi is doing pretty well with its mix of products. Founded in 2006, LendingClub (NYSE:LC), a consumer / SME online lender, a has originated over $28.75 billion. Founded in 2005, Prosper Marketplace, a consumer lender, has originated over $10 billion to individuals. SoFi was founded six years ago (2011), so their growth trajectory has been far faster than some similar firms.
