### SoFi and Fortress Investment Group Seal $2 Billion Loan Platform Deal

SoFi Technologies, Inc. (NASDAQ: SOFI) has announced a significant $2 billion business agreement with affiliates of Fortress Investment Group LLC aimed at expanding SoFi's lending capabilities. This collaboration aligns with SoFi's strategy of providing diverse financial services, assisting nearly 8.8 million members with various financial needs, including borrowing, saving, spending, investing, and protecting their money.

The agreement will strengthen SoFi's loan platform, benefiting both pre-qualified borrowers referred to loan origination partners and those whose loans are originated by third parties. Anthony Noto, CEO of SoFi, emphasized the importance of the loan platform in diversifying the company's revenue sources towards more fee-based and less capital-intensive avenues. Noto lauded Fortress for their smooth execution and deep understanding of SoFi's value proposition.

Dominick Ruggiero, Co-Head of Specialty Finance at Fortress, highlighted the excitement surrounding the partnership, pointing to SoFi's innovative platform and commitment to providing valuable credit solutions. Ruggiero noted that Fortress views SoFi's platform as a compelling investment opportunity with potential for mutual growth.

SoFi offers a comprehensive suite of financial products and services that are designed to help its members achieve financial independence. Their services include SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights, alongside other offerings in the lending and technology sectors. SoFi Bank, N.A., an affiliate of SoFi, operates as a nationally chartered bank, regulated by both the OCC and FDIC, while SoFi itself is regulated by the Federal Reserve as a bank holding company.

Fortress Investment Group, founded in 1998, manages $48 billion of assets as of June 30, 2024. The firm's extensive experience in the asset-based credit sector, providing capital solutions to a variety of specialty finance companies, includes both consumer and small commercial receivables. With two decades of active investment, Fortress operates in the U.S. and Europe, maintaining an asset class agnostic approach.

For more information about SoFi and Fortress, their services, and strategic initiatives, visit their respective websites at SoFi.com and Fortress.com.