OnlyFans considers majority stake sale to Architect Capital

OnlyFans, the adult creator network where performers and influencers sell subscription-based content directly to fans, is considering selling a majority stake of its business to investment firm Architect Capital, according to a source close to the deal. The proposed transaction would value the platform at $5.5 billion. Under the terms of the potential deal, the two parties have entered an exclusivity period, meaning OnlyFans is barred from negotiating with other potential buyers for a set period of time. While negotiations have been reported, the timeline for completing any potential deal remains unclear. TechCrunch reached out to Architect Capital for comment regarding the discussions.

The financial structure of the proposed $5.5 billion transaction consists of:

• $3.5 billion in equity
• $2 billion in debt

Under these terms, Architect Capital would assume a 60% stake in the business. The potential buyer, Architect Capital, launched in 2021 as an asset-based lender—which is defined as a firm that provides loans secured by company assets—and looks to partner with early-stage startups.

This is not the first time in recent memory that the platform has sought a buyer. Reports last year indicated that Leonid Radvinsky, the billionaire owner of OnlyFans, was looking to sell the business and was courting potential buyers. The platform’s parent company, Fenix International Ltd., was subsequently in talks with a U.S.-based investor group led by the Los Angeles-based investment firm Forest Road Company. While it is unclear what happened to those discussions, a source told TechCrunch that there has been a number of interested parties since OnlyFans announced its desire to sell a majority stake. The British firm was originally founded in 2016 by Tim Stokely, who also initially served as its CEO before selling a majority stake in Fenix International to Radvinsky in 2018.

Despite the fact that a majority of the creators on the platform produce adult content, OnlyFans maintains that it is not a “pornography website.” Over the years, the British firm has faced a variety of legal controversies, including “lawsuits accusing the site of profiting off of abusive videos.”

Why it matters

This potential deal marks another attempt by the billionaire-owned platform to find a buyer, highlighting the ongoing search for liquidity for its owner and the platform’s market position.