Key Points
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SoFi’s digital banking services have grown substantially, quadrupling its member base from 2.5 million in 2021 to 12.6 million by Q3 2025.
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Affirm’s “buy now, pay later” service has seen its active consumers rise from 7.1 million to 24.1 million from fiscal 2021 to Q1 of fiscal 2026.
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Projected revenue growth rates: SoFi at a CAGR of 27% from 2024 to 2027, while Affirm is expected to achieve a CAGR of 25% from fiscal 2025 to 2028.
SoFi Technologies (NASDAQ: SOFI) has expanded its offerings beyond student loans to become a comprehensive digital banking platform, acquiring a U.S. bank charter in 2022 and increasing user engagement through AI-driven services. Its member count surged to 12.6 million by Q3 2025, while total products in use reached 18.6 million.
Affirm Holdings (NASDAQ: AFRM) has successfully grown its buy now, pay later business, tripling its active users from 7.1 million in fiscal 2021 to 24.1 million in Q1 fiscal 2026. It generated significant gross merchandise volume growth, increasing from $8.3 billion to $36.7 billion over the same period. With an enterprise value of $27.2 billion, Affirm trades at 24 times its adjusted EBITDA, making it a potentially more attractive investment compared to SoFi’s 31 times adjusted EBITDA at an enterprise value of $32.5 billion.
