Fortress, Edge Focus Commit $3.2 Billion for SoFi Loans
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SoFi Technologies Inc. has secured as much as $3.2 billion in new commitments from Fortress Investment Group and artificial intelligence-focused lender Edge Focus to originate personal loans, according to a statement.
Fortress agreed to fund $2 billion for loan originations in addition to the $2 billion the firm committed to last year, a deal that expanded SoFi’s loan platform business. The new agreement extends Fortress’ commitments by one year.