SoFi, the U.S.-based fintech company, has seen remarkable growth in its member base, reaching over 8.7 million members in the second quarter of 2024. This represents a 41 percent increase from the previous year, highlighting the company's rapid expansion in the competitive fintech landscape. Apart from its member base, SoFi also saw its net revenue increase significantly in 2023, exceeding two billion U.S. dollars. Fintech valuations and market leaders While SoFi continues to expand its user base, other fintech companies are also making waves in the industry. As of March 2024, Stripe held the top position as the most valuable fintech company in the United States, with a market valuation of 65 billion U.S. dollars. This is more than double the valuation of its closest competitor, Chime. Stripe's success underscores the potential for growth and investment in the fintech sector, despite recent fluctuations in overall investment activity. U.S. fintech landscape and growth trends The fintech industry in the United States has experienced substantial growth over the past decade. As of June 2024, there were 10,412 fintech companies operating in the country, representing a slight increase from the previous year. This growth trend aligns with SoFi's expanding membership, indicating a broader shift towards digital financial services. However, it's worth noting that the rate of new fintech company formation has slowed in recent years, suggesting a maturing market where established players like SoFi are consolidating their positions and attracting more users.

Customer growth for U.S.-based fintech company SoFi (Social Finance Inc.) slowed down in 2023 and 2024 but remained close to 50 percent. In the second quarter of 2024, the total number of members grew by roughly 44 percent compared to the same quarter in the previous year. This was the lowest member growth rate since 2019. 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.

How high is the brand awareness of SoFi in the United States?When it comes to neobanking and neobrokerage users, brand awareness of SoFi is at 60% in the United States. The survey was conducted using the concept of aided brand recognition, showing respondents both the brand's logo and the written brand name.How popular is SoFi in the United States?In total, 16% of U.S. neobanking and neobrokerage users say they like SoFi. However, in actuality, among the 60% of U.S. respondents who know SoFi, 27% of people like the brand.What is the usage share of SoFi in the United States?All in all, 13% of neobanking and neobrokerage users in the United States use SoFi. That means, of the 60% who know the brand, 22% use them.How loyal are the customers of SoFi?Around 9% of neobanking and neobrokerage users in the United States say they are likely to use SoFi again. Set in relation to the 13% usage share of the brand, this means that 69% of their customers show loyalty to the brand.What's the buzz around SoFi in the United States?In March 2022, about 14% of U.S. neobanking and neobrokerage users had heard about SoFi in the media, on social media, or in advertising over the past four weeks. Of the 60% who know the brand, that's 23%, meaning at the time of the survey there's little buzz around SoFi in the United States.If you want to compare brands, do deep-dives by survey items of your choice, filter by total online population or users of a certain brand, or drill down on your very own hand-tailored target groups, our Consumer Insights Brand KPI survey has you covered.

In 2024, several digital banks had substantial customer bases in the United States. Cash App led the market with 57 million users, followed by Chime with 22.3 million users as of April 2024. Ally Bank, Robinhood, and Dave each had approximately 11 million customers. SoFi trailed behind with 9.4 million users as of September 2024. Among these leading digital banks in the U.S., only Cash App was among the five leading neobanks worldwide based on customer numbers.

The net cash of Sofi Technologies, Inc. with headquarters in the United States amounted to -7,227.14 million U.S. dollars in 2023. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2019 this is a total decrease by approximately 7.2 billion U.S. dollars. The trend from 2019 to 2023 shows, however, that this decrease did not happen continuously.

The revenue of Sofi Technologies, Inc. with headquarters in the United States amounted to 421.45 million U.S. dollars in 2023. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2019 this is a total increase by approximately 416.93 million U.S. dollars. The trend from 2019 to 2023 shows, furthermore, that this increase happened continuously.

This statistic presents the largest Fintech deals worldwide in 2014. The term Fintech is used to describe the start-up innovative companies operating in the financial sector, which provide modern technology solutions to financial services companies. It was found that the total value of investments in Credit Karma amounted to approximately 160 million U.S. dollars in 2014. Company profiles of Stripe, Wealthfront, OnDeck, and SoFi can be found in our Statista Report 2017.

Among global digital banking leaders, SoFi demonstrated exceptional performance in customer monetization during 2023, generating revenues of 409 U.S. dollars per customer. Starling Bank secured the second position with revenues of 279 U.S. dollars per customer. Following these front-runners, Monzo achieved revenues of 121 U.S. dollars per customer, while Wise generated 102 U.S. dollars per customer.