Subscription platform OnlyFans is in discussions to sell a majority stake to US investment firm Architect Capital, in a deal that could value the company at around $3.5 billion, according to people familiar with the matter.
According to industry reports, the talks involve the sale of nearly 60% of the company. Including debt, the transaction would value OnlyFans at about $5.5 billion. The discussions are said to be exclusive, though there is no certainty that a deal will be finalised.
Architect Capital’s plans
San Francisco-based Architect Capital reportedly sees room to expand OnlyFans’ financial infrastructure, particularly for creators who are underserved by traditional banking systems.
Investor materials reviewed by the Wall Street Journal suggest the firm also believes the platform could be prepared for a stock market listing as early as 2028.
OnlyFans is a highly profitable business. The platform generates close to $1.6 billion in annual net revenue, primarily by taking a 20% share of creators’ subscription and paid content earnings.
Ownership and past sale efforts
OnlyFans is owned by Leonid Radvinsky, a Ukrainian-American entrepreneur who bought the company in 2018 through its parent firm, Fenix International Ltd.
This is not the first time a sale has been considered. Last year, Fenix International held talks with potential buyers at a valuation of around $8 billion, but those discussions did not lead to a transaction.
OnlyFans became widely known during the COVID-19 pandemic, as many creators turned to the platform to earn direct income from subscribers. While its business model has proven highly profitable, the adult nature of much of its content has made it harder to attract traditional investors and financial partners.
If the current talks lead to a deal, it would mark one of the biggest transactions in the creator economy to date.
However, neither OnlyFans nor Architect Capital has publicly commented on the discussions.
