SoFi just posted a record Q3. $1.37B revenue, up 44%, with 17.1M members. A couple months ago, @Figure CEO @MBTannenbaum, who joined SoFi at ~75 people, told me why it worked when the other fintechs didn't: "SoFi was one of the unique fintechs at the time, focused on a mass affluent customer. Almost all the fintechs of the 2010 era, LendingClub and Prosper, a lot of these emerging online lenders, were focused on a down-market customer. But here's SoFi, refinancing the student loans of people who had graduated and were less risky. People miss this, but if you're trying to do financial services for consumers who don't have a lot of money, you're capping the amount of money you can make. If someone only has $20,000 to spend for the year, you have to capture all of it to make $20,000, which is impossible. If someone is making $120,000, that becomes six times easier."