SoFi is acquiring Peach, a fintech infrastructure company focused on lending technology, according to a LinkedIn announcement from Peach Co-Founder and CEO Eddie O. Financial terms of the deal were not disclosed.
Founded eight years ago, Peach built lending infrastructure technology designed to help financial institutions avoid building lending systems from scratch. The company developed a platform focused on processing, banking core and ledgering, payments, and risk and fraud capabilities for fintech and lending companies.
As part of the transaction, Peach will join the SoFi Technology Solutions organization. Eddie O. said the integration will help expand a broader platform that combines multiple financial technology capabilities under one roof.
In the announcement, Eddie O. reflected on Peach’s journey from its early days in Oakland, California through scaling the business during the pandemic and growing its customer base over the years. He also highlighted the support of co-founders Gur Brosh and Eran Sandler, along with investors including SciFi VC, Caffeinated Capital, Background Capital, Nyca Partners, and Canapi Ventures.
The deal marks another move by SoFi to strengthen its technology and infrastructure offerings beyond consumer financial services. Peach’s lending infrastructure platform is expected to complement SoFi’s broader fintech ecosystem and enterprise technology ambitions.
KEY QUOTES:
“Eight years ago, we started Peach with a simple belief: lending infrastructure could be built better — and you should not have to build it from scratch every time.”
“We’ll become part of the SoFi Technology Solutions organization, helping expand a platform that brings together processing, banking core and ledgering, payments, and risk and fraud capabilities under one roof.”
Eddie Oistacher, Co-Founder And CEO, Peach
