FinTech News
SoFi Partners with Templum to Expand Alternative Investments
SoFi Invest is set to expand its alternative assets features thanks to a new partnership.
About the partnership:
This week, Templum announced that it was working with SoFi to bring more alternative investments to the FinTech’s customers. Launched earlier this year, SoFi’s platform now allows users to invest in funds from ARK Venture Fund, Carlyle Tactical Credit Fund, the KKR Credit Opportunities Portfolio, and more.
The partnership between Templum and SoFi is timely as alternative investments are on the rise in general. According to Chartered Alternative Investment Analyst Association figures cited by Templum, alternative assets under management are expected to reach $24.5 billion by 2028 — which is up 50% compared to today’s $16.3 billion. Yet, as the company notes, access to these assets has been largely limited until recently.
What they’re saying:
Speaking to SoFi’s decision to launch alternative investments, SoFi CEO Anthony Noto said, “At SoFi, we spend every day working to empower our 8 million+ members to get their money right so that they can achieve financial independence – and investing is an important part of that – but unfortunately, many valuable investment vehicles have been left inaccessible to the everyday investor. We recently changed that paradigm by expanding access to alternative investments.”
Noto went on to discuss the new partnership, saying, “As we look ahead, SoFi is partnering with Templum to find even more ways to give SoFi Members unique access, as we continue to deliver on our commitment to providing them with unmatched choice and flexibility when it comes to investing their hard-earned money.”
Meanwhile, Templum CEO and founder stated, “Partnering with SoFi is a great example of how like-minded firms can come together to increase investment access and opportunity. Templum’s technology, regulatory foundation, and Alternatives expertise, combined with our work with leading fund managers, allows us to bring some of the most sought-after investments to SoFi. We are excited to be with SoFi at the forefront of one of the largest transformations in markets today.”
My thoughts:
I may not know a lot about alternative investments — but I do appreciate that SoFi is now bringing them to the mainstream. Furthermore, as it promised upon launching the feature back in January, the platform is continuing to add to its alternative line-up. Overall, I think that’s a good thing. However, from what I’ve seen, I do feel as though SoFi could provide more educational material on how these alternative investments work.
As for Templum, while it’s hard to know exactly what they’ll bring to the table at this point, it sounds like the company is a good fit for SoFi’s feature. With that, I look forward to seeing how this partnership grows in the coming months.
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