Part 6/9:
One of the core strategies announced by Sofi involved transitioning toward more fee-based revenue sources that are less risky. By emphasizing fee-based revenues—amounting to $174 million in Q3 and growing 65% year-over-year—the company is on a path towards a burgeoning $700 million annual revenue stream if maintained at scale. This growth is bolstered by performance in their loan platform and interchange revenues, which have seen improvements of 5x and 2x respectively when compared on a year-over-year basis.