A couple of years ago an entrepreneur by the name of Chamath Palihapitiya emerged into the limelight. Palihapitiya was long known within the tight-knit venture capital community of Silicon Valley, yet few mainstream investors knew much about him. That dynamic seemed to change virtually overnight, and a lot of it had to do with his support for special purpose acquisition companies (SPACs).

One of the companies that Palihapitiya helped take public via SPAC is banking platform SoFi Technologies (NASDAQ: SOFI). You may be familiar with SoFi due to the company's aggressive marketing tactics, which include catchy commercials and its namesake National Football League stadium.

What you may not be familiar with is the depth of SoFi's operation. Let's dig into the business model and compare the company against some industry peers. After doing so, I hope my bullish stance becomes more clear. 

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Source Fool.com