Fenix International Ltd., the U.K.-based parent company of OnlyFans, has sold a 16% stake to Architect Capital for $535 million, giving the company a valuation of $3.15 billion, the company said.
Through the deal, Architect Capital — a San Francisco-based firm whose strategies span credit, private equity, venture capital, and structured capital — will take a minority position in the platform. On the advisory side, Fenix International retained Moelis & Co. as its financial advisor and Skadden, Arps, Slate, Meagher & Flom for legal counsel, while Architect Capital was represented by Sullivan & Cromwell.
According to the company, the infusion of capital is expected to broaden what OnlyFans offers both creators and fans, make financial operations more efficient, and leverage Architect Capital's background in financial services to reach content creators "who are often underserved by traditional financial institutions and products."
"This strategic investment reflects our success in delivering this mission, and will enable us to build additional services and features to support our creator community and enhance OnlyFans' position in the creator economy," OnlyFans CEO Keily Blair said in a statement.
Architect Capital CEO James Sagan said in a statement: "OnlyFans is a category-defining platform with a powerful global brand, a deeply engaged community, and a proven model at the center of the creator economy."
For the fiscal year ending November 30, 2024, OnlyFans reported gross revenue of $7.22 billion, up 9% from the previous year. Net revenue reached $1.41 billion, an 8% increase, and pre-tax profit was $684 million, up 4%. Since its 2016 launch, OnlyFans says it has paid creators over $25 billion. The platform now has more than 377 million registered fan accounts and over 4 million creator accounts worldwide.
The deal comes after the death of OnlyFans owner Leonid "Leo" Radvinsky, who died at 43 from cancer in March. Control of Fenix International has since passed to his widow, Yekaterina "Katie" Chudnovsky, Bloomberg reported. Radvinsky had held a majority stake in OnlyFans since 2018 and collected $1.8 billion in dividends from the company beginning in 2021. In 2024, Radvinsky had moved his shares of Fenix International into a trust.
The two sides had previously been in negotiations over a deal of a very different scale: Reuters reported in January that the talks at the time revolved around Architect acquiring close to 60% of the company, far beyond the minority position now agreed to.