In early April 2023, SoFi can add another major aspect of consumer finance to its area of expertise: mortgages. In an announcement, SoFi revealed that it has acquired fintech mortgage leader Wyndham Capital Mortgage in an all-cash transaction. The established lending brand will be contributing its technology and expertise to SoFi’s continued expansion of its home loans strategy.
Self-described as a “one-stop shop for digital financial services,” SoFi Technologies has transformed how the world spends, saves, and invests its money. Its popular suite of financial technology products has won the company more than 5.2 million subscribers as of 2023, and its product line has gradually expanded to encompass nearly every aspect of consumers’ financial lives.
“At SoFi, we’re on a mission to help people get their money right and purchasing a home is often one of, if not the, biggest financial decision individuals make in their lives," Anthony Noto, SoFi’s CEO, said in a press release. “Today’s acquisition of Wyndham Capital will not only allow us to scale and keep pace with accelerated growth, but also allow us to foster that growth in a way that brings value to our members through sales and operational efficiencies and helps members get their money right when it comes to one of life’s most significant financial milestones.”