OnlyFans in talks to sell 60% stake

British platform OnlyFans, known best for its adult content, is in talks to sell a 60% stake to an investment firm in a deal that would value the company at about $3.5 billion, according to a person familiar with the matter.

San Francisco-based Architect Capital has entered exclusive talks with OnlyFans owner Fenix International and is looking for other investors to back a potential offer, which also includes roughly $2 billion in debt, the person said, asking not to be identified because the deliberations are private. The talks are at an early stage, could take months to conclude, and may not result in a deal, the person added.

The Wall Street Journal first reported on the talks. A spokesperson for OnlyFans declined to comment. Architect Capital didn’t immediately return a request for comment.

OnlyFans has been exploring sale options since last year, including one that would have valued the company at about $8 billion, as its Ukrainian-American owner Leonid Radvinsky seeks to cash in after years of pandemic-era growth. The platform’s reliance on sexually explicit content has limited access to traditional financing, deterred some potential buyers, and left the company vulnerable to pressure from payment processors and regulators, complicating deal-making efforts.

Little-known Architect Capital was founded in 2020 by James Sagan, who previously worked for a multifamily office and co-founded early-stage credit fund Arc Labs. It describes itself as a firm “specialized in building novel financial infrastructure across asset classes.”

In a presentation to investors, the fund said it saw value in offering services to OnlyFans content creators, and saw a potential for the company to go public as soon as 2028, the Wall Street Journal reported, citing people familiar with the matter. Architect Capital has previously invested in North and South America, in areas like consumer financing and e-commerce.

London-based OnlyFans hosts pornographic content forbidden on most other social networks. It makes money by taking a 20% fee on any subscriptions or content including videos, pictures and chats sold via the platform. In recent years, the site has sought to broaden its appeal by promoting creators focused on other topics such as fitness and food.

OnlyFans has paid Radvinsky $701 million in dividends last year, including a record amount for 2024. In all, the entrepreneur has received about $1.8 billion from the platform since 2021.

© 2026 Bloomberg

Follow Moneyweb’s in-depth finance and business news on WhatsApp here.