SoFi Has 17.1 Million Members. Prediction: It Tops 20 Million in 2027.

SoFi Technologies (NASDAQ: SOFI) has been a huge laggard. And investors might have a difficult time separating the share price from the underlying business. This fintech stock has lost 34% of its value in 2026 (as of Nov. 4).

But the fundamentals look strong. For example, SoFi ended the third quarter with 17.1 million members, a figure that soared 35% year over year. The trajectory of its user growth has been nothing short of spectacular.

Based on historical trends, I predict that SoFi will easily top 20 million customers next year.

Image source: Getty Images.

Success rests on taking care of customers

SoFi's user base has ballooned by 490% from 2.9 million exactly five years ago to 17.1 million today. This type of growth is exceptional in the corporate world. It's even more noteworthy in the mature financial services industry. The business has carved out a successful niche by targeting a younger and affluent customer base that values a digital-only platform with a superior user experience that makes managing personal finances seamless.

Cross-selling is driving growth. "Approximately 51% of new products came from existing members, and 37% of members now use two or more products, up from 33% a year ago," Chief Financial Officer Chris Lapointe said on the company's Q3 2026 earnings call. SoFi now has 26.7 million active products in use, 44% higher than 12 months ago.

Investors can't ignore how much this business excels in the innovation pipeline. Just in the past year, the company launched cryptocurrency trading, blockchain-based remittances, an artificial intelligence-powered personal financial coach, and small-business loans, among other releases. This strategy of continually finding ways to better serve customers, a philosophy that propelled Amazon's monster success, is a major contributor to SoFi's rise.

Expect the strong momentum to continue

While customer gains were 35% year over year during the last three quarters, the leadership team expects member growth to be 30% in 2026. This would imply that SoFi ends the year with about 17.7 million users. To reach 20 million customers next year, the business would need to grow its user base by only 13% in 2027. If history is any indication, then the odds are stacked heavily in SoFi's favor to exceed this milestone.

It's impossible to know what impact this will have on the growth stock, which currently sits 46% off its peak from November 2025 and trades at a compelling forward price-to-earnings ratio of 19.6. If the company reports better-than-expected financial results, that can obviously introduce tremendous upside.

Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon. The Motley Fool has a disclosure policy.