US $ 3bn

Coming in second on our list of Top 10 digital-only banks , SoFi leverages technology to provide financial products that help customers save , invest , and better protect their finances . Originally utilising an alumni-funded lending model that connected students and recent graduates with investors and alumni , SoFi shifted its approach to a non-traditional underwriting model focused on lending to responsible customers . Today , SoFi also offers cash management checking accounts and investment platforms including advisor services and brokerage options . Generating US $ 3bn in total funding , the fintech recently received approval from the OCC for a National Bank Charter , after merging with a Special Purpose Acquisition Company SPAC to go public at a US $ 9bn valuation in 2021 .