SoFi Technologies reported another milestone in the third quarter, adding 905,000 new members—a 35% increase year-over-year—and breaking its own quarterly record for the fifth consecutive period. The company’s total member base now stands at 12.6 million, up 265% since the end of 2021. Cross-selling success is evident in the 18.5 million total products held across its ecosystem, highlighting deepening engagement as customers adopt multiple offerings over time.

Since acquiring Golden Pacific Bancorp in 2022 and securing its bank charter, SoFi has rapidly expanded beyond lending to offer checking and savings accounts, credit cards and investing tools. This one-stop shop strategy extends to emerging areas: cryptocurrency trading was relaunched this year, global remittances on blockchain are now live, and a fully reserved stablecoin has been rolled out. Each new product line supports cross-selling goals and strengthens customer retention.

SoFi’s revenue reached $2.61 billion in 2024, driven by a 37% compound annual growth rate from 2021, while adjusted EBITDA surged 181% to $666 million over the same period. In the third quarter alone, loan originations and fee-based income both accelerated, buoyed by improving credit metrics and the initial benefits of lower interest rates. Analysts forecast revenue growth of 37% and EBITDA growth of 56% in the upcoming year, reflecting continued operating leverage.

CEO Anthony Noto has reiterated the goal of elevating SoFi into the top 10 U.S. financial institutions. Management expects that further declines in interest rates will not only fuel loan growth but also stimulate broader consumer finance activity. With a diversified product stack, a robust digital platform and ongoing investments in technology segments such as Galileo, SoFi is positioned for sustained member acquisition and deepening wallet share over the next several years.