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SAN FRANCISCO - SoFi Technologies Inc (NASDAQ:SOFI), whose stock has surged over 200% in the past year and is currently trading near its 52-week high of $19.29, announced Tuesday it has expanded its alternative investments platform to include new private markets funds from asset management firms Cashmere, Fundrise and Liberty Street Advisors. According to InvestingPro analysis, the fintech company, now valued at over $21 billion, appears overvalued at current levels.
The new funds will provide retail investors exposure to privately held companies across sectors including artificial intelligence, space technology, consumer products, healthcare and financial technology. Companies accessible through these funds include OpenAI, SpaceX, Epic Games and others. This expansion comes as SoFi demonstrates strong operational performance, with InvestingPro data showing revenue growth of 23.62% and healthy gross profit margins exceeding 82%.
With investment minimums starting at $10, the expansion aims to provide retail investors with access to private market opportunities that have traditionally been available only to institutional and high-net-worth investors.
"SoFi is expanding alternative investment opportunities for a new generation of investors," said Anthony Noto, CEO of SoFi, in the press release.
The company has been building its alternative investment offerings over the past year, having previously introduced funds managed by ARK, KKR, Carlyle, and Franklin Templeton that provide exposure to private credit, real estate, and pre-IPO companies.
SoFi has also partnered with Templum to offer access to privately held companies through the Cosmos Fund, which provides exposure to technology companies including SpaceX, Databricks and xAI.
The new private markets funds are now available to SoFi Invest members through the company’s app. SoFi currently serves over 10.9 million members across its financial services platform.
In other recent news, SoFi Technologies reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations. The company announced an earnings per share (EPS) of $0.06, which was higher than the anticipated $0.04, and revenue of $771.76 million, exceeding the forecasted $740.33 million. This strong performance led SoFi to raise its full-year guidance, indicating confidence in its growth trajectory. Furthermore, SoFi’s shareholders recently elected board members and approved executive compensation at the company’s annual meeting. In terms of analyst activity, BofA Securities maintained an Underperform rating on SoFi’s stock, despite the positive earnings results, expressing caution due to macroeconomic uncertainties.
SoFi is also planning to expand its service offerings, with new initiatives in global remittances and cryptocurrency investing expected later this year. The company aims to launch international money transfers for SoFi Money members and introduce cryptocurrency trading services, initially focusing on Bitcoin and Ethereum. Additionally, SoFi is considering expanding its cryptocurrency offerings to include stablecoins and other related services. These developments come as SoFi continues to build its member base, adding 800,000 new members in the first quarter, and expanding its product offerings, which reached 1.2 million new products.
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