That’s why we had OnlyFans’ current CEO, Keily Blair, onstage at the Fortune Most Powerful Women Summit last week. I interviewed Blair onstage about her vision for the future of OnlyFans, which is at the precipice of a brand-new chapter.

Earlier this year, OnlyFans’ very private owner, Leonid Radvinsky, died of cancer in his 40s. After his death, the company brought on a firm called Architect Capital as its first institutional investor. With Architect, OnlyFans is now crafting a new vision of what the company can be.

The first major change on its roadmap is to begin offering financial services products to the 2.5 million active creators on the platform. Many of those creators make explicit content, and are thus often rejected by mainstream banks. Financial institutions are fearful of facilitating crimes like sex trafficking and paint with a broad brush. Even Blair herself has been rejected by a bank for serving as OnlyFans’ CEO; at one point, OnlyFans itself almost got cut off from mainstream financial services, threatening the future of its business and leading its original founders to sell.

Blair says that OnlyFans can offer banking products where mainstream institutions can’t because it has more information about its creators. “We have full visibility into the content that’s being created,” she told me. “There’s a huge difference between perceived risk and actual risk.”

And yet the risk is still real. I was shaken reading more this year about the details of the Tate brothers’ trafficking operation, which involved trafficking women into creating content for OnlyFans and training other men to do the same. I asked Blair what goes through her mind when she hears about such things happening on the platform she leads. “It’s horrific,” she told me.

OnlyFans is already one of the most successful tech companies to come out of the U.K. It did $1.55 billion in revenue in 2025, its 20% cut of $7.85 billion processed on the platform that year. In addition to financial services products, OnlyFans is also aiming to get more into mainstream entertainment—as AI microdramas proliferate across social media, could OnlyFans help creators produce their own?—and offer its own version of algorithmic discovery for the first time. OnlyFans has traditionally required users to find their preferred creators on other platforms like X and Reddit, and then track down their OnlyFans accounts, rather than recommend content to users. The fear is recommending explicit content to someone who doesn’t wish to see it; OnlyFans just began testing discovery in the Netherlands, Blair told me, and will trial in more markets.

All of this lays the groundwork for a possible OnlyFans IPO. The closest precedent would be Reddit’s 2024 IPO, Blair says. “It’s a social media platform with a high concentration of adult content,” she explains.

She didn’t have any news to announce, but confirmed a public offering is on the agenda. “We’re thinking about that pathway towards an IPO and working toward that as a potential goal for the company,” she says.

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world.

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ON MY RADAR

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PARTING WORDS

"I think about perception all the time. It’s a big part of my job. It’s not cool at all."

—Euphoria star Hunter Schafer