SoFi has acquired Composer, an AI startup focused on empowering retail investors with advanced trading strategies traditionally reserved for Wall Street. CEO Anthony Noto emphasized that AI will revolutionize investing, allowing everyday users to build and automate complex strategies effortlessly.
This acquisition aims to democratize systematic investing tools, previously limited to hedge funds and institutions. SoFi's customer base surged to 14.7 million in Q1, reflecting a 35% increase, while revenue rose to $1.1 billion, a 41% jump.
The competitive landscape for retail trading intensifies post-pandemic, with platforms like Robinhood also enhancing AI capabilities to attract users. Noto noted that SoFi members are actively seeking market opportunities even amid volatility.