Consumer lending name SoFi Technologies Inc (NASDAQ:SOFI) is charging higher this afternoon, following an announcement that the company has struck a $2 billion expansion deal with Fortress Investment Group.
Personal finance company SoFi is expanding its loan platform with a new $2 billion investment. The new “loan platform business agreement,” announced Monday (Oct. 14), is based on funds that will be managed by affiliates of Fortress Investment Group.
A $2 billion financing deal has investors excited.
SoFi Technologies Inc. (NASDAQ: SOFI) shares surged 10% after the company announced a $2 billion deal with Fortress Investment Group LLC for personal loans.
Shares of SoFi Technologies (SOFI) rose Monday morning after the digital financial services company announced a $2 billion deal with Fortress Capital to grow its personal loans business.
SoFi Technologies Inc SOFI is lighting up the trading floor, with a striking 9% leap to $9.80 by 11 AM ET on Oct. 14.
Fintech SoFi reached an agreement with Fortress Investment Group to connect pre-qualified borrowers with loans.
If SoFi gets these businesses working, the stock could fly.
Trends are moving in its favor.
SoFi (SOFI) stock price has staged a strong comeback in the past few weeks as investors focus on the Federal Reserve and the recently-started earnings season. It soared to a high of $9.01, its highest level since March 4th, and 50% above its lowest level in August.
In the closing of the recent trading day, SoFi Technologies, Inc. (SOFI) stood at $8.63, denoting a +0.47% change from the preceding trading day.
SoFi technologies wants to become a comprehensive financial services company.