SoFi Surpasses NuBank in Deposits With 56% Growth to $51.3B

As seen on the 24/7 Wall St. homepage on November 14, 2026.

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SoFi's deposit base has grown to $51.3 billion, overtaking NuBank's $47.5 billion. SoFi's 56% growth rate is more than double NuBank's 22%, so the distance between the two is widening quickly.

Deposits are the cheapest funding a digital lender can get, and SoFi is now pulling in that low-cost capital faster than most traditional banks. Funding loans with customer deposits rather than wholesale borrowing structurally improves margins.

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NuBank has expanded across Latin America with tens of millions of customers. That SoFi, operating primarily in the United States, has pulled ahead on this measure shows how aggressively it has converted brokerage and lending customers into full banking relationships.

If SoFi keeps expanding deposits at 56% and NuBank at 22%, the dollar gap widens each quarter, compounding SoFi's funding cost advantage.

Sources

Mentioned: SOFI, NU

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SoFi Technologies $SOFI initiated with a Buy at Monness Crespi Monness Crespi initiated coverage of SoFi Technologies with a Buy rating and $20 price target. The BNPL share of spending and neobanks' share as a portion of spending and lending have risen meaningfully over the https://t.co/MRdPen2GZM
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