SoFi Technologies gained 905,000 members in Q3, totaling 12.6 million. Revenue rose 38% year-over-year. The company aims for 50 million members and 150 million products by 2030. JPMorgan Chase, with roots tracing to 1799, has never hit a $1 trillion valuation. SoFi aims to surpass it as the first U.S. financial firm to reach that milestone.

SoFi, founded in 2011, offers various financial services through a digital-first model. It operates efficiently with high net interest margins. Membership growth is at 35% annually, with room for scaling up. To crack the top 10 U.S. financial institutions by assets, SoFi would need to multiply its balance sheet tenfold.

SoFi CEO Noto plans to scale the lending business and expand into digital assets. The company’s digital efficiency and innovative offerings position it for sustained profitability. Challenges include regulatory scrutiny, interest rate fluctuations, and competition. Expansion into new verticals could accelerate growth and valuation.

SoFi’s trillion-dollar ambition hinges on consistent execution amid risks. While a 30-fold increase in market cap is needed, its digital edge and growth trajectory suggest long-term potential. A focus on fundamentals is crucial for investors. The path to a trillion-dollar valuation may stretch over decades, beyond the next decade or two.

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Read more at Yahoo Finance: Can SoFi Do What JPMorgan Has Been Unable To In 226 Years?