Online bank and digital consumer finance company SoFi started 2023 with relatively modest goals for the expansion of its personal loan business and other services. It’s small wonder why, after the major plans announced by fintechs in 2022 were met by a punishing summer for the industry.
With the most recent financial figures just posted by SoFi, however, it would seem that the company has the numbers to back up a more assertive stance. Boasting results such as 58% year-over-year growth for the quarter and a strong indication of 27% or greater revenue growth for the year ahead, SoFi is in a good position to continue building its personal loan and banking services in the near future.
“We finished a remarkable year with another quarter of record financial results and continued strength in member and product adds, as well as cross-buy momentum,” said Chief Executive Officer Anthony Noto in a press release about the new figures. “Our strong momentum in member and product adds, and the momentum in products added from cross-buy, reflects the benefits of our broad product suite and Financial Services Productivity Loop (FSPL) strategy.”
