SoFi adds members and products, driving growth in deposits and fee revenue

AI-assisted source summary · not independently verified. Content standards

SoFi set records for new members and products in the third quarter, with revenue up 44% year over year, and raised its full-year guidance. As of September, it had 17.1 million members and 26.7 million products, up 35% and 44% year over year, respectively. Financial Services revenue rose to $525.1 million, while fee-based revenue was $570.6 million, accounting for 42% of total revenue.