SoFi vs Robinhood Statistics 2026: Members, Deposits, Revenue, Lending

SoFi Technologies added a record 1,027,000 members in the fourth quarter of 2025, bringing total members to 13.7 million, up 35% from 10.1 million at the end of the prior-year period, while Robinhood Markets reported Funded Customers up by 1.8 million, or 7%, year-over-year to 27.0 million across the same window. The two fintechs cover overlapping audiences with fundamentally different balance sheets: SoFi runs a federally chartered national bank that funds personal, student, and home loans; Robinhood operates as a broker-dealer routing equities, options, and crypto trades.

The data below tracks members, deposits, originations, transaction-based revenue, net interest income, cross-sell density, and the FDIC vs. SIPC protection split across the most recent reporting quarters.

Key Takeaways

• SoFi closed Q4 2025 with total members of 13.7 million, up 35% year-over-year, after adding a record 1,027,000 members in the quarter.
• Robinhood ended Q4 2025 with Funded Customers of 27.0 million, up 1.8 million or 7% year-over-year, roughly twice the SoFi member headcount but on a different definitional basis.
• SoFi posted record GAAP net revenue of $1.0 billion in Q4 2025, up 40% versus the prior-year period.
• Robinhood posted record FY 2025 revenues of $4.5 billion, including a record $1.28 billion in Q4.
• Robinhood Total Platform Assets reached $324 billion at year-end 2025, up 68% year-over-year, driven by net deposits and higher equity valuations.
• SoFi’s total deposits grew $4.6 billion to $37.5 billion in the fourth quarter, primarily from member deposits.
• Robinhood Gold subscribers reached 4.2 million at the end of 2025, up 1.5 million or 58% year-over-year, lifting Gold’s share of funded customers above 15%.

Editor’s Choice

• Robinhood Markets reported record FY 2025 revenues of $4.5 billion, including a record $1.28 billion in Q4.
• SoFi recorded total originations of $10.5 billion in Q4 2025, up 46% year-over-year, the highest in company history at that point.
• Robinhood transaction-based revenue reached $776 million, up 15% year-over-year.
• Robinhood posted record Net Deposits of $68 billion in 2025, including $16 billion in Q4.
• SoFi posted record product growth of 36% to 18.6 million products in Q3 2025 against 12.6 million members.
• SoFi Financial Services segment hit net revenue of $456.7 million in Q4 2025, up 78% from the prior year.
• Robinhood Retirement assets under custody reached a record $26.5 billion, up 102% year-over-year at year-end 2025.

Recent Developments

• April 29, 2026: SoFi reported Q1 2026 record GAAP net revenue of $1.1 billion, up 43% year-over-year, and record total originations of $12.2 billion.
• April 28, 2026: Robinhood reported Q1 2026 total revenues of $1.07 billion, up 15% year-over-year, with Funded Customers at 27.4 million.
• April 11, 2026: Robinhood disclosed that starting in March 2026, Net Deposits will include results from TradePMR in its monthly operating metrics release.
• February 2026: Robinhood updated its brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to free credit balances.
• February 10, 2026: Robinhood released Q4 2025 results with record FY 2025 revenues of $4.5 billion.
• January 26, 2026: SoFi released Q4 2025 results with its ninth consecutive quarter of GAAP profitability.

SoFi Members vs Robinhood Funded Customers

• SoFi closed Q4 2025 with total members of 13.7 million, up 35% from 10.1 million one year earlier.
• SoFi ended Q3 2025 with a record 12.6 million members, member growth of 35% year-over-year.
• Robinhood closed Q4 2025 reporting Funded Customers of 27.0 million, up 1.8 million or 7% year-over-year.
• Robinhood closed Q1 2026 reporting Funded Customers of 27.4 million, up 1.7 million or 6% year-over-year.
• Robinhood defines a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days, had an account balance greater than zero or completed a transaction.
• The headcount lines look like Robinhood is roughly twice the size of SoFi, but the metrics measure different things: SoFi reports members tied to any of its lending, banking, investing, or insurance products under the Financial Services Productivity Loop, while Robinhood’s Funded Customer test requires recent account activity. Direct headcount math overstates Robinhood’s lead by an unknown amount.

Source: SoFi earnings releases (SEC EDGAR); Robinhood Investor Relations press releases

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Is SoFi a bank?

SoFi is a bank. The OCC granted approval for Social Finance Inc. to create SoFi Bank, National Association, headquartered in Cottonwood Heights, Utah, as a full-service national bank on January 18, 2022. SoFi Bank is OCC-supervised; the parent SoFi Technologies, Inc. operates broader fintech services through that charter.

Which is bigger, SoFi or Robinhood?

Robinhood reports a larger active-user count, but the metric definitions differ. SoFi closed Q4 2025 with 13.7 million members, and Robinhood ended Q1 2026 with 27.4 million Funded Customers. Robinhood’s Funded Customer requires account activity within 45 days; SoFi’s member count covers anyone holding at least one of its products. Comparing the two as if they measure the same thing overstates Robinhood’s lead.

SoFi vs Robinhood Revenue and Profitability

• SoFi logged record GAAP net revenue of $1.0 billion in Q4 2025, up 40% relative to the prior-year period’s $734.1 million.
• SoFi delivered adjusted net revenue up 38% to a record $950 million in Q3 2025, with fee-based revenue up 50% to a record $409 million.
• SoFi closed Q1 2026 with record GAAP net revenue of $1.1 billion, up 43% relative to the prior-year period’s $771.8 million.
• Robinhood reported record revenues of $4.5 billion in 2025, including a record $1.28 billion in Q4.
• Robinhood reported Q1 2026 total revenues of $1.07 billion, up 15% year-over-year.
• SoFi posted GAAP net income of $173.5 million and diluted EPS of $0.13 in Q4 2025, its ninth consecutive quarter of GAAP profitability.
• SoFi posted GAAP net income of $167 million in Q1 2026.

Source: SoFi earnings releases (SEC EDGAR); Robinhood Investor Relations press releases

Robinhood reports higher absolute revenue across the most recent comparable quarters, with record FY 2025 revenues of $4.5 billion versus SoFi’s full-year run-rate implied by its 1.0-to-1.1-billion quarterly print. SoFi’s growth rate runs faster off a smaller base, with GAAP net revenue up 43% year-over-year in Q1 2026 against Robinhood’s 15% for the same quarter. Profitability sits on different timelines too: SoFi crossed into GAAP profit in late 2023 and has now strung together nine consecutive quarters of GAAP net income, while Robinhood’s profitability arc rides closer to its transaction-revenue line and moves with market activity.

SoFi Lending Originations vs Robinhood Transaction-Based Revenue

• SoFi recorded total originations of a record $10.5 billion in Q4 2025, up 46% year-over-year.
• Personal loan originations hit a record $7.5 billion in Q4 2025, up 43% year-over-year.
• Student loan originations reached $1.9 billion in Q4 2025, up 38% year-over-year.
• Home loan originations climbed to a record over $1.1 billion in Q4 2025, up nearly 2x year-over-year.
• Q1 2026 total originations hit a record $12.2 billion, with personal loans $8.3 billion, student loans $2.6 billion, up 2.2x year-over-year, and home loans $1.2 billion, up nearly 2.4x year-over-year.
• Robinhood transaction-based revenue reached $776 million, up 15% year-over-year.
• Robinhood’s Q4 2025 transaction-based revenue mix included options revenue of $314 million (up 41%), equities revenue of $94 million (up 54%), other transaction revenue of $147 million (up over 300%), and cryptocurrencies revenue of $221 million (down 38%).

By the numbers: SoFi pushed record total originations of $10.5 billion in Q4 2025 through its lending stack while Robinhood collected $776 million in transaction-based revenue from equities, options, crypto, and other trades. The two revenue lines describe two different businesses: principal-on-balance-sheet versus per-trade rebate flow.

Robinhood’s revenue mix swung wider underneath the headline growth figure. Options revenue grew 41%, and equities 54%, but cryptocurrencies revenue fell 38% across the same window. SoFi’s lending stack delivered tighter dispersion across product lines because principal originations track underwriting capacity and demand more steadily than spot-trading volume, which moves with asset volatility.

SoFi Deposits vs Robinhood Platform Assets and AUC

• SoFi ended Q4 2025 with total deposits of $37.5 billion, grown by $4.6 billion in the quarter, driven primarily by member deposits.
• SoFi ended Q3 2025 with total deposits of $32.9 billion, grown by $3.4 billion in the quarter, with nearly 90% of SoFi Money deposits coming from direct deposit members.
• Robinhood reported Q4 2025 Total Platform Assets of $324 billion, up 68% year-over-year.
• Robinhood reported Q1 2026 Total Platform Assets of $307 billion, up 39% year-over-year.
• Robinhood posted record Net Deposits of $68 billion in 2025, including $16 billion in Q4.
• Robinhood Retirement assets under custody reached a record $26.5 billion at year-end 2025, up 102% year-over-year.
• Robinhood disclosed over $6 billion of Cash Sweep balances moved to free credit balances in February 2026 when the High-Yield Cash program was updated to fund margin lending.

These two balance lines describe different liabilities. SoFi deposits are on the SoFi Bank, N.A. balance sheet, funded primarily by direct-deposit members, and they back the lending stack at a regulated reserve ratio. Robinhood Total Platform Assets are customer-owned securities, cash, and crypto held in custody. They sit off Robinhood’s own balance sheet for the most part, and they generate fee income rather than fund credit exposure.

SoFi Net Interest Income vs Robinhood Net Interest Revenue Mix

• SoFi reported Financial Services segment net interest income of $207.8 million in Q4 2025, up 30% year-over-year.
• SoFi’s noninterest income in Financial Services reached $248.9 million in Q4 2025, up nearly 2.6x year-over-year.
• Q3 2025 net interest income reached $203.7 million, up 32% year-over-year, primarily driven by growth in consumer deposits.
• Q1 2026 net interest income hit $227.7 million, up 31% year-over-year, and noninterest income of $200.8 million, up 55%.
• Robinhood reported net interest revenues of $411 million, up 39% year-over-year, primarily driven by growth in interest-earning assets and securities lending activity.
• Robinhood ARPU reached $191, up 16% year-over-year.
• Robinhood reported other revenues of $85 million in Q1 2026, up 57% year-over-year, primarily driven by Robinhood Gold subscriptions.

Why it matters: SoFi’s net interest income climbed from $203.7 million in Q3 2025 to $227.7 million in Q1 2026 on consumer-deposit growth. Robinhood’s net interest revenue grew 39% to $411 million in Q4 2025, but rides margin balances and securities lending, not credit-risk-bearing assets.

Across CoinLaw’s 100+ payment-platform and fintech-statistics articles, we’ve tracked a pattern: chartered banks absorb rate-cycle shocks more smoothly than transaction-fee-only fintechs because deposit funding and loan repricing happen on different lags. SoFi’s NII grew steadily by 30-32% across three consecutive quarters; Robinhood’s revenue mix moved with options and crypto volatility instead.

SoFi Cross-Sell Density vs Robinhood Gold and Product Mix

• Q3 2025 product growth ran up 36% to a record 18.6 million products against 12.6 million members.
• SoFi lending products reached 2.5 million in Q3 2025, up 30% year-over-year.
• SoFi reported Technology Platform enabled accounts of 160 million in Q2 2025, up 1% year-over-year on the combined Galileo and Technisys stack.
• SoFi reported combined Financial Services and Technology Platform segment net revenue of $579.1 million in Q4 2025, up 61% from the prior-year period.
• Robinhood Gold subscribers reached 4.2 million at year-end 2025, up 1.5 million or 58% year-over-year against 27.0 million Funded Customers.
• Robinhood Gold subscribers reached 4.3 million in Q1 2026, a new all-time high.
• SoFi reported approximately 1.48 products per member in Q3 2025 (18.6 million products against 12.6 million members).
• Robinhood Gold subscribers reached a Gold-to-Funded-Customer ratio of approximately 0.16 at year-end 2025 (4.2 million Gold against 27.0 million Funded Customers).

SoFi widens the product menu (checking, savings, personal loans, student loans, home loans, credit cards, brokerage, insurance referrals, and Galileo’s technology platform) under what management calls the Financial Services Productivity Loop. Robinhood deepens premium-tier penetration on a narrower core product: brokerage with Gold as the upgrade path that bundles instant deposits, higher cash sweep yield, and margin features. Both strategies aim at higher revenue per customer; they get there on different axes.

The Razorpay statistics page tracks a separate per-customer monetization pattern in the payment-gateway take rate, which shows how adjacent fintech business models monetize the same customer pool through different mechanics.

Banking Charter, FDIC vs SIPC, and Geographic Footprint

• The OCC granted approval for Social Finance Inc. to create SoFi Bank, National Association, headquartered in Cottonwood Heights, Utah, as a full-service national bank on January 18, 2022.
• The SoFi Insured Deposit Program distributes SoFi Checking & Savings balances across a network of participating banks to maximize FDIC insurance, increasing coverage from a maximum of $250,000 to $3 million at no extra cost.
• SoFi Checking and Savings receives industry-standard FDIC insurance of up to $250,000 per member; joint accounts are insured up to $500,000.
• Robinhood Cash Sweep customers have their eligible uninvested brokerage cash automatically swept into deposits at a network of program banks, with cash deposited eligible for FDIC insurance of up to $2.5 million for individual accounts and up to $5 million for joint accounts as of January 15, 2025.
• SoFi Securities LLC, member SIPC, is a broker-dealer offering investing services through SoFi Invest; SIPC protects cash held in a brokerage account against the failure of the broker-dealer, up to $250,000 in cash.
• Robinhood Financial LLC (member SIPC) is a registered broker-dealer, and Robinhood Securities LLC (member SIPC) provides clearing services.
• Robinhood UK launched with general availability in March 2024 after a UK brokerage waitlist that opened in late 2023, offering commission-free trading of more than 6,000 US-listed stocks and ADRs.
• Robinhood UK offers 5% AER on uninvested cash through a brokerage cash sweep program.

Source: OCC SoFi Bank charter approval; SoFi Insured Deposit Program documentation; SoFi support documentation; Robinhood Cash Sweep Program documentation; Robinhood UK newsroom

Is Robinhood FDIC insured?

Brokerage cash at Robinhood is FDIC-insured through the Cash Sweep Program. Cash swept into the network of program banks is eligible for FDIC insurance of up to $2.5 million for individual accounts and up to $5 million for joint accounts as of January 15, 2025. Cash held inside the brokerage account before it sweeps is SIPC-protected, not FDIC-insured.

What is the difference between SIPC and FDIC at SoFi vs Robinhood?

FDIC and SIPC cover different risks. SoFi Securities LLC SIPC coverage protects brokerage cash against broker-dealer failure up to $250,000, not against market losses. SoFi Checking and Savings sits at SoFi Bank under FDIC insurance. At Robinhood, brokerage cash is SIPC-protected, and partner-bank sweep cash is FDIC-insured.

Conclusion

Across the current reporting cycle, SoFi and Robinhood operate at meaningfully different scales when measured by counted customers, with SoFi at 13.7 million members against Robinhood’s 27.4 million Funded Customers, the same headline gap framed in the intro, but the revenue mechanics diverge more sharply than the headcount tally suggests. SoFi runs a chartered-bank engine: $37.5 billion in deposit funds $10.5 billion in quarterly originations, with net interest income climbing across three consecutive quarters. Robinhood runs a broker-dealer engine: $324 billion in Total Platform Assets generates $776 million in transaction-based revenue from a mix of equities, options, crypto, and other trades that swing with asset volatility.

The forward path depends on the rate cycle and the trading-volume cycle in different ways. SoFi’s lending-and-deposit model will reprice with the federal funds rate and the personal-loan demand curve; Robinhood’s transaction-revenue mix will move with equity volatility, options activity, and crypto prices. Readers comparing the two should match the metric to the question: total customer reach favors Robinhood, balance-sheet depth and product-per-customer density favor SoFi, and the stats methodology page documents how these figures are sourced from SEC EDGAR-filed earnings releases and primary regulatory filings.