HOW SOFI GREW TO $23B OF DEPOSITS

Summary from the TLDR Founders newsletter

SoFi, a digital neobank, has achieved significant growth by combining consumer banking services with fintech infrastructure. In Q3 2024, SoFi reported record financial results, including $689 million in net adjusted revenue and a 17% increase in new members. Its dual role as both a bank and fintech enabler positions it as a leader in the industry and allows it to offer scalable financial products and services to other fintechs.