Shares of SoFi rallied 12% on Tuesday as the online personal finance company made its debut as a publicly traded company.
SoFi closed at $22.65 on its first trading day on the Nasdaq Global Select Market. The company went public via a merger with Social Capital Hedosophia Holdings Corp., a SPAC run by venture capitalist Chamath Palihapitiya.
SoFi shares were last up more than 2% in after-hours trading.
The debut marked a milestone for the fintech company founded by four Stanford Graduate School of Business students in 2011, now run by Anthony Noto. SoFi began as a student loan financing company but steadily expanded to other financing products, including personal loans and mortgages.