Free daily briefing on global business news.
SOFI's paid membership gains early traction, with cross-selling and product adoption central to its growth ambitions.
SoFi Technologies SOFI is betting that customers will pay for more value inside its financial services app. The initial numbers for SoFi Plus are encouraging. After relaunching the premium membership in the second quarter of 2026, SoFi ended the period with 206,000 paid subscribers, signaling solid early demand.
The company said most of its SoFi Plus subscribers are existing members. About 85% of subscribers were already using SoFi, according to management. That matters because the subscription is designed to increase awareness and use of other products rather than simply bring new customers into the platform.
There are early signs that the strategy is working. Management said 25% of existing members who joined SoFi Plus added another product afterwards, with SoFi Invest benefiting the most. SoFi Plus also generated more than $24 million in annualized revenues after its first quarter under the paid subscription model.
