West Coast fintech expanding to south Charlotte and creating 225 jobs
SoFi Technologies is expanding to the East Coast and promising to create 225 jobs in Charlotte.
The San Francisco-based fintech will invest $3 million by Dec. 31, 2026, the N.C. Department of Commerce said during Tuesday’s NC Economic Investment Committee meeting. This project will create those 225 positions through 2030, with a minimum average wage of $108,400. That’s above Mecklenburg County’s average salary of $86,830.
SoFi’s hub will be in Ballantyne.
The company offers digital financial services with a banking model primarily online and mobile-based, said Mark Poole with the N.C. Department of Commerce.
New positions will include loan officers, loan processors, underwriters, chief experience analysts, and sales and management teams, according to a statement from Gov. Josh Stein’s office Tuesday.
Several roles do not require a four-year degree, according to the city of Charlotte and Mecklenburg County.
For its investment, SoFi Bank National Association, subsidiary of parent SoFi Technologies, will receive nearly $1.9 million in state tax incentives over 12 years. The state also awarded $482,750 to train employees for this project through its Workforce Solutions Division.
The city of Charlotte and Mecklenburg County combined are offering the company about $80,000 in tax incentives. Combined, that’s about $2.5 million in state and local incentives.
SoFi picked Charlotte over competing sites in Frisco, Texas, and Jacksonville, Florida, according to Poole. “The company cited a number of factors, including economic development incentives, labor market availability, and geography,” he said.
The Charlotte region has more than 104,000 workers in the financial services sector, according to the city and Mecklenburg County.
SoFi has 130 employees in North Carolina.
Sofi has been in Charlotte since 2023, SoFi Bank Interim President Eric Schuppenhaurer said in the state news release. The region’s talent, and quality of life make it a natural fit, he said.
When asked for comment, company officials referred to the governor’s office news release.
About SoFi Technologies
Founded in 2011, SoFi has about 3,800 employees in 14 locations in the U.S., as well as in Hong Kong, Latin America and Switzerland.
SoFi was the 56th biggest U.S. bank by total assets with over $36 billion at the end of last year. As of June 30, SoFi’s total assets rose to $41 billion.
It will have plenty of competition in Charlotte, which is one of the largest banking centers in the U.S. The market is dominated by Bank of America and Truist, both headquartered in Charlotte, and San Francisco-based Wells Fargo with about 27,000 workers here.
SoFi joins other banks expanding in Charlotte
Other banks have recently announced Charlotte expansions, including U.S. Bank, JPMorgan Chase, Ohio-based banks Huntington National Bank and Fifth Third Bank, Pittsburgh-based PNC Bank and Texas-based USAA.
In July, Citigroup Technology, a division of the investment bank and financial services firm Citigroup, said it will invest $16 million and hire 510 more workers by 2027 in Charlotte.
The same month, BankUnited Inc. announced its Charlotte debut as part of the Florida bank’s Southeast expansion. Three corporate banking and commercial real estate executives based in Charlotte will focus on regional growth. The company was eyeing the SouthPark area for an office.
First National Bank also is exploring expanding in west Charlotte at the iconic Bar-B-Q King site.
The bank plans to open nearly 30 branches over the next five years in North Carolina, South Carolina, Maryland, Virginia and Washington, D.C.
This story was originally published October 21, 2025 at 11:54 AM with the headline "West Coast fintech expanding to south Charlotte and creating 225 jobs."
