Sofi lands are $ 5 billion to extend the platform business platform platform

Sofi has completed an agreement with Blue Owl Capital worth at least $ 5 billion.

The asset manager’s agreement, Office has partnered Thursday (March 13), let the SOFI expand the loan platform business, which refers to pre-qualified borrowers and comes from the members of the parties of the first parties.

“This represents the largest one’s commitment for the business of Loan Sofi and two times our first commitment, with many capital sources as well as capital sources, Anthony NooThe CEO of Sofi, said to a news heard.

“Blue Owl is excited to associate with SOFI to help with the growing needs of customers through their business debt,” Ivan Zinn, president of alternative credit to blue owl. “Sofi expands access to many people with new solutions. We see a strong opportunity to be part of this growth through this strategic program.”

The release of notice that two-year deals with blue owls reflect increasing demand for members’ efforts and development of sources of proceeds.

According to Sofi, the company’s loan business comes from $ 2.1 billion loans last year. This business allows the admission fee of “coming from loans for partners while remaining rights of service,” in addition to release.

Meanwhile, Sofi said last month it closed a $ 697.6 million sekularization to the number of loan number in business.

This transaction is a “co-contributor securitization” with collateral created primarily on loans previously laid with a loan business partners, the company says.

“While personal Sofi loan products agree more people, we see continuous powerful demand for our loans in the capital markets,” Chris LupanainteSofi’s financial head, said to a release of news. “This offer shows the clear amount of our business loan platform and our different funds strategy.”

In related news, Pymts wrote the last month about Sofi’s efforts and other companies who wanted it to keep the digital financial solutions and products, including cards Alternate to traditional banks.

“To do so, and by offering a maintenance of financial services,” that report says, these companies “act beyond the commercial boundaries to be, in fact, the banks themselves.”