OnlyFans considering selling majority stake to Architect Capital

OnlyFans — the large creator platform best known for allowing performers and influencers to sell subscription-based content directly to fans — is weighing a potential sale of a majority stake in its business to investment firm Architect Capital, according to a source familiar with the discussions who spoke to TechCrunch. The proposed transaction would place a $5.5 billion valuation on the company.

According to the source, the deal structure would include $3.5 billion in equity and $2 billion in debt. Under those terms, Architect Capital would acquire a 60% ownership stake in OnlyFans. The two parties are currently operating under an exclusivity agreement, meaning OnlyFans is restricted from negotiating with other potential buyers for a defined period. A timeline for completing the transaction has not been disclosed. The Wall Street Journal previously reported the talks.

This is not the first time OnlyFans has explored a sale in recent years. In 2024, the New York Post reported that billionaire owner Leonid Radvinsky was seeking to “cash out” and had begun approaching potential buyers. Follow-up reporting later revealed that the platform’s parent company, Fenix International Ltd., had entered discussions with a U.S.-based investor group led by Los Angeles investment firm Forest Road Company.

It remains unclear what ultimately happened to those earlier talks. However, the source told TechCrunch that multiple interested parties have emerged since OnlyFans publicly indicated it was open to selling a controlling stake.

Architect Capital, the potential partner in the current negotiations, was founded in 2021 as an asset-backed lender. The firm specialises in providing loans secured by company assets and positioning itself as a partner to early-stage and growth-focused startups.

Despite the platform’s reputation, OnlyFans has consistently maintained that it is not a pornography website, even though the majority of its creators produce adult-oriented content. The company was founded in 2016 by Tim Stokely, who initially served as chief executive officer. In 2018, Stokely sold a majority stake in Fenix International to Radvinsky.

Over the years, OnlyFans has faced multiple legal and regulatory challenges, including lawsuits alleging that the platform profited from abusive and non-consensual content. Those controversies have continued to shape public perception of the company as it explores strategic options, including the possible sale of a majority stake.