SoFi And BlackRock Partner On $375M Personal Loan Securitization

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BlackRock, Inc.








SoFi Technologies, Inc. (NASDAQ:SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, today announced an agreement to place a $375 million personal loan securitization exclusively with funds and accounts managed by BlackRock (NYSE:BLK) investment advisors.

"Our access to different sources of capital is a critical component to growing our lending capabilities and better serving our members," said Anthony Noto, CEO of SoFi. "BlackRock's great collaboration, seamless execution, and ability to invest across the entire capital structure made them an exceptional partner."

To date, SoFi has sold over $14.5 billion and securitized over $13.7 billion of personal loan collateral.

The transaction issuer will be SoFi Personal Loan Trust 2023-1 and is backed by a pool of SoFi personal loan collateral. The transaction is expected to settle by mid-November.

"SoFi has built a strong platform by focusing on its members and continually innovating to meet their needs. We are excited to help them grow their lending business while at the same time accessing differentiated investment opportunities, which is an important part of the value proposition for our clients," said Gary Shedlin, Vice Chairman, BlackRock.

Advisor and Initial Purchaser to this transaction is Citi.

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