BUZZ-SoFi rises on $2 bln agreement to expand loan platform business
Reuters10-14
** Shares of fintech SoFi Technologies up 5% at $9.46 premarket
** SOFI announces $2 bln loan platform business agreement for personal loans with investment manager Fortress Investment Group
** Transaction will bolster SOFI's loan platform business, where it refers pre-qualified borrowers to loan origination partners as well as originates loans on behalf of third parties
** SOFI's loan platform business is part of its strategy to diversify toward less capital-intensive and more fee-based sources of revenue
** As of last close, SOFI shares down 9.4% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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