Key Points
SoFi Technologies (NASDAQ: SOFI), the fintech once known as Social Finance, went public by merging with a special purpose acquisition company (SPAC) on June 1, 2021. Its stock opened at $21.97 on its first day, but it sank to an all-time low of $4.30 on Dec. 7, 2022.
SoFi’s stock was mainly driven lower by rising interest rates, which chilled the market’s demand for fresh loans and compressed its valuations. The federal freeze on student loan payments, which lasted for nearly three years until September 2023, exacerbated that pressure.
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But today, the stock trades at about $26. It bounced back as interest rates declined, the student loan payments resumed, and it continued to expand its services and gain new users. Can it maintain that momentum and drive its stock even higher over the next 10 years?
What happened to SoFi over the past four years?
SoFi, which was founded in 2011, initially provided student loans. Over the following decade, it expanded its online platform into a one-stop shop with mortgages, auto loans, personal loans, credit cards, insurance policies, estate planning services, and stock-trading tools.
It also acquired the digital payment processing company Galileo in 2020, and it obtained a U.S. bank charter to launch is own digital-only direct bank in 2022. That digitally native approach enabled it to expand much faster than traditional banks, and it collected plenty of data for its own AI algorithms to automate, accelerate, and refine many of its financial services.
From 2021 to 2024, SoFi’s number of year-end members quadrupled from 2.5 million to 10.1 million, its products in use jumped from 1.9 million to 14.7 million, and its adjusted annual revenue had a compound annual growth rate (CAGR) of 37%, from $1.01 billion to $2.61 billion. It achieved that expansion even as it grappled with higher rates and frozen student loan payments.
In the first nine months of 2025, its adjusted revenue rose 38% year over year to $2.58 billion. At the end of the third quarter, its number of members had grown 35% year over year to 12.6 million as its products in use climbed 36% to 18.6 million. Galileo, which operates separately from SoFi, hosts nearly 160 million accounts on its own.
Most of that growth was driven by its younger millennial and Gen Z users, who prefer digital banking platforms instead of visiting brick-and-mortar banks. It also continues to lock in more users with its diverse and expanding mix of fintech services.
What will happen to SoFi over the next 10 years?
From 2024 to 2027, analysts expect SoFi’s revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to show a CAGR of 27% and 44%, respectively, as four catalysts kick in.
First, it plans to expand its loan platform business — which originates loans on behalf of third parties — to boost the margins of its fee-based revenue. That capital-light approach is a lot less risky than originating its own loans.
Second, SoFi should gain more customer deposits as its newer digital banking business grows. Those rising deposits should boost its net interest margin, provide it with more funds for its first-party lending products, and reduce its dependence on third-party financing.
Third, it plans to launch even more services and bundle them together in its SoFi Plus subscription service, which offers higher interest rates on savings accounts, discounts, rewards, and other perks. Those subscriptions should boost its revenue per member, while personal finance tools driven by artificial intelligence should increase the stickiness of its offerings and help it cross-sell added services.
Lastly, the company’s expansion into the blockchain and crypto markets could attract more customers who don’t typically rely on traditional banks. Its blockchain-powered SoFi Pay platform already enables fast and cheap cross-border transfers, and its new crypto tools will allow its customers to buy, hold, and stake their digital assets. That evolution should widen its moat against Robinhood, PayPal, and other diversified fintechs with crypto trading tools.
If SoFi achieves those goals, it could expand and evolve into a more diversified fintech giant. Assuming it matches analysts’ expectations through 2027, its adjusted EBITDA has a robust CAGR of 20% through 2035, and it still trades at 30 times its adjusted EBITDA in the final year, its stock could rise more than eightfold over the next decade. That might not be a millionaire-making gain for most investors, but it could easily outperform many of its fintech peers and the S&P 500.
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Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal. The Motley Fool recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2025 $75 calls on PayPal. The Motley Fool has a disclosure policy.