SoFi allows Members to invest in IPOs
SoFi announced it will be offering its members the ability to invest in IPOs for companies going public, an investment opportunity that has traditionally been reserved for large institutional investors or ultra-high-net-worth individuals. It anticipates offering several initial public offering securities in the coming months available to SoFi Invest members through the SoFi app.
“Our mission at SoFi is to help people achieve financial independence to realize their ambitions. If you’re going to achieve your financial goals, having access to a broad range of diversified investment opportunities is imperative, and gaining access to primary offerings is another way to diversify your portfolio that has previously been restricted to a select few. IPO Investing reflects our continued effort to make investing more accessible, by pioneering fractional shares, offering commission-free trading, creating unique SoFi-branded ETFs, and now, IPO investing.” – Anthony Noto, CEO of SoFi.
The IPO product will be available to anyone who opens or has a SoFi Active Invest account and has at least $3,000 in total account value across all of SoFi Invest (inclusive of automated and active investing).
The new product comes as SoFi, which had its start as a student-loan platform, is set to go public in the coming weeks.