SoFi acquires Peach Finance to expand lending capabilities

By Aarav Garg

SoFi Technologies has acquired Peach Finance as it continues to expand its lending infrastructure and enterprise technology operations through acquisitions.

Founded in 2018, Peach Finance provides loan management and servicing software for banks, credit unions and FinTech lenders, helping institutions launch and manage non-mortgage lending programmes. The company has raised approximately $35.8 million from investors including SciFi VC, Caffeinated Capital, Nyca Partners and Canapi Ventures. Its most recent funding round was a $10.3 million Series B completed in October 2024.

Financial terms of the acquisition were not disclosed. Peach will become part of SoFi Technology Solutions, the division that also includes banking infrastructure platform Galileo and core banking provider Technisys, both previously acquired by SoFi.

The acquisition marks SoFi’s third deal this year following purchases of Composer and UK FinTech PrimaryBid. The company has been broadening its focus beyond consumer financial services toward infrastructure, banking technology and enterprise solutions.

Earlier this month, SoFi also launched its Big Business Banking division, targeting enterprise partners managing both fiat and digital asset banking operations.