SoFi Adds 1.1 Million First-Quarter Members as Cross-Selling Accelerates

SoFi Technologies, or SoFi, began as a student lender and has evolved into a one-stop digital financial platform spanning deposits, credit cards, investing and a range of loans. Existing members who add products within the same ecosystem help lower customer acquisition costs and increase lifetime value. The cross-sell rate is therefore a key measure of growth quality and the scalability of its business model.

On April 29, 2026, SoFi reported results for the first quarter ended March 31. It added 1.055 million members, bringing the total to 14.7 million, up 35% year over year; existing members opened 43% of new products. Adjusted net revenue reached $1.1 billion, while loan originations hit a record $12.2 billion. Technology platform revenue fell 27% year over year to $75.1 million due to the migration of a single client.