The subscription platform that helped reshape how creators get paid online could soon look very different behind the scenes.
According to The Wall Street Journal, OnlyFans is currently negotiating a potential sale of a controlling share to a private investment group.
The proposed transaction would give Architect Capital approximately 60 percent ownership of the business and place the company’s equity value at approximately $3.5 billion. Including debt, the total enterprise value would land near $5.5 billion.
Nothing is locked in yet, and sources caution that talks could still fall apart before any agreement is signed.
Architect Capital, based in San Francisco, focuses on companies where it believes operational upgrades—especially in financial systems—can unlock growth. In materials shared with its investors, the firm described a plan to modernize payment infrastructure for creators it calls “under-banked,” a group that often faces hurdles with traditional banks and card processors.
That’s a key pressure point for OnlyFans. Many of its more than three million active creators rely on the platform as a primary source of income, but businesses tied to adult content often struggle to maintain stable relationships with mainstream financial institutions.
OnlyFans makes money by taking a cut of subscriptions and exclusive content sold directly to fans. While the company has repeatedly said it isn’t strictly an adult site, the service became widely known for its role in the sex-work economy as well as influencer-led paywalls.
Ownership has shifted before. Billionaire tech entrepreneur Leo Radvinsky bought control of the company in 2018 from its British founders. Since then, filings tied to parent company Fenix International show significant payouts to Radvinsky, with nearly $1 billion in dividends paid over the past two years.
Architect’s pitch reportedly goes beyond cleanup. The firm sees a path to take OnlyFans public around 2028. Internal projections reviewed by investors put annual net revenue at roughly $1.6 billion.
If the deal closes, it would mark one of the biggest private-equity bets yet on the creator economy.