OnlyFans, the London-based subscription platform synonymous with adult content, is reportedly in advanced talks to sell a minority stake for a valuation of more than $3bn. According to sources familiar with the process, the company is discussing the sale of less than 20% to San Francisco investment firm Architect Capital.
The move is understood to be a bid for stability following the death last month of its billionaire owner, Leonid Radvinsky. The Ukrainian-American entrepreneur, who purchased OnlyFans in 2018, died of cancer at the age of 43. With control of the business now held by a family trust, the injection of an experienced outside investor is seen as a way to secure the platform’s future.
The Architect of a New Chapter
This is not the first time OnlyFans has explored a sale. In May 2025, the company was reportedly in talks with a consortium led by the Forest Road Company, backed by British billionaires David and Simon Reuben, for a potential $8bn valuation. By January of this year, discussions had shifted to Architect Capital for a potential 60% majority stake at around $5.5bn. The current talks for a smaller, non-controlling stake at a valuation north of $3bn represent a different strategic path.
A key rationale for choosing Architect Capital, according to sources, is the firm’s expertise in financial services. Architect is an asset-based lender focusing on FinTech, E-Commerce, and SaaS companies. This aligns with a major strategic interest for OnlyFans: offering banking products to its vast creator base, who often struggle to access traditional financial services due to the nature of their work.
Banking on the Creator Economy
The push into financial services addresses a critical pain point for the platform’s 4.6 million registered creators. Many traditional banks classify adult content as high-risk, leading to flagged deposits, frozen accounts, or outright denial of service due to conservative corporate values and regulatory concerns. While some institutions like Bank of America, Capital One, and digital bank Grasshopper are noted for being more tolerant, official endorsements are rare.
This leaves creators, who collectively earned $7.2bn from the platform in the year to November 2024, navigating a patchwork of solutions. Some turn to fintech platforms like Wise or Revolut to manage international payments, while newer services like Yoursafe specifically target digital and adult content creators. By leveraging Architect Capital’s sector knowledge, OnlyFans aims to develop a more formalised and supportive financial infrastructure for its core workforce, potentially unlocking further growth for the business.
A Profitable Empire Built on Subscriptions
The potential $3bn-plus valuation rests on a highly profitable operation. OnlyFans operates on an 80/20 revenue split, retaining 20% of all transactions. In its last financial year, it generated $1.4bn in revenue and a pre-tax profit of $684m. The platform hosts 377 million fan accounts who pay to access content from creators, who range from adult performers to fitness, music, and cooking specialists.
The business was overwhelmingly owned by Leonid Radvinsky. A Northwestern University economics graduate, Radvinsky had a background in online ventures, including a porn referral site and the streaming platform MyFreeCams, before acquiring OnlyFans. His ownership proved extraordinarily lucrative; in 2024 alone he was paid $701m in dividends, on top of over $1bn previously received. At his death, his net worth was estimated at $4.7bn.
With continuity plans already in place due to his anticipated death, day-to-day control remains with CEO Keily Blair, while the Radvinsky family trust, managed by his widow Katie, holds the shares. If the minority stake sale proceeds, this control structure will remain unchanged, with Architect Capital providing capital and expertise as the company navigates its next phase in a competitive and evolving market for digital content.
