SoFi: member growth rate 2023

Customer growth for U.S.-based fintech company SoFi (Social Finance Inc.) slowed down in 2023 but remained close to 50 percent. In the third quarter of 2023, the total number of members grew by roughly 47 percent compared to the same quarter in the previous year. This was the highest member growth in 2023, but it remained below the growth numbers reported in 2022 and 2021. SoFi is an online personal finance company that provides financial services and products such as personal and student loans, mortgages, credit cards, investing, and banking. SoFi defines a member as someone who has a lending relationship with us through origination or servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service.

Percentage change on the previous year in the number of unique members at SoFi Inc. from 3rd quarter 2019 to 3rd quarter 2023

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Release date

October 2023

More information

Region

United States

Survey time period

Q3 2019 to Q3 2023

Supplementary notes

The source adds the following information: "Members are defined as someone who has a lending relationship with us through origination or servicing, opened a financial services account, linked an external account to our platform, or signed up for our credit score monitoring service. Once someone becomes a member, they are always considered a member unless they violate our terms of service. This means that our members have continuous access to our CFPs, our career advice services, our member events, all of our content, educational material, news, tools and calculators at no cost to the member."

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