Expansion Marks SoFi’s First Entry into International Market
SAN FRANCISCO, CA – April 21, 2020 – SoFi, the digital personal finance company, announced today an expansion into its first international market, with the introduction of SoFi Invest in Hong Kong.
In Hong Kong, SoFi Invest will be the only comprehensive investing platform that offers access to brokerage, automated investing, and ETFs, all within the SoFi app ecosystem, complete with commission-free trading. The SoFi Invest platform will offer a first-of-its-kind simple mobile experience accompanied by financial advice and education.
“We underwent an extensive evaluation process when considering our first international market, and it was clear that Hong Kong, a financial capital of Asia, is ripe for innovation and a launching pad for further expansion in both product and geography,” said Anthony Noto, CEO of SoFi. “Leveraging the learnings from the SoFi Invest platform in the U.S., SoFi can meet the needs of both experienced and novice investors alike in Hong Kong, all in support of our overall efforts to make headway on our mission to help people get their money right. Because when it comes to achieving financial independence, investing is not optional – it is imperative.”
SoFi is launching its international presence in the Hong Kong market based on its acquisition of the parent of online brokerage firm 8 Securities, based in Hong Kong. By localizing the SoFi brand in Hong Kong, SoFi will continue to serve existing 8 Securities customers, as well as expand to an ever-growing member base.
SoFi’s acquisition of 8 Securities remains subject to customary closing conditions. Following closing, the 8 Securities platform will be rebranded as SoFi and will be available to Hong Kong residents, in accordance with all applicable laws and regulations. For more information, visit SoFi.hk.
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, future home of the Los Angeles Chargers and the Los Angeles Rams, opening in July 2020. For more information, visit SoFi.com or download our iOS and Android apps.
SoFi Lending Corp. CFL# 6054612, NMLS #1121636 (www.nmlsconsumeraccess.org). Advisory services are offered through SoFi Wealth, LLC an SEC-registered Investment adviser. Brokerage products and SoFi Money® are offered through SoFi Securities LLC, member FINRA/SIPC. Neither SoFi nor its affiliates is a bank. ©2020 Social Finance, Inc.