SoFi launched into mortgages less than two years ago and is already blowing past a lot of its competitors, announcing it has officially surpassed more than $7 billion in funded loans.
Less than six months ago, SoFi announced that it had not only surpassed $4 billion in funded loans across mortgages, personal loans and student loan refinancing, but it also announced $1 billion in Series E funding shortly after.
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"SoFi continues to redefine consumer expectations in financial services," said Mike Cagney, SoFi CEO and co-founder, at the time of the $1 billion announcement in funding "This funding will dramatically advance expansion of our disruptive products and experiences, and in turn, meaningfully benefit financially responsible individuals. Our trajectory is clear: we are well on our way to becoming the most trusted financial services partner in the U.S.”
SoFi, based in San Francisco, started in student loan refinancing and has since moved into mortgages, personal loans and more.
Last week, SoFi shook the industry when it announced it may not use FICO scores when evaluating applicants.
[Correction: A previous version of this article said SoFi secures more than $7 billion in funded loans. It is updated to say SoFi surpasses more than $7 billion in funded loans.]