About OppFi
OppFi provides a platform that helps community banks offer personal loans to individuals who often struggle to access credit from traditional financial institutions. By partnering with these banks, OppFi enables them to extend credit to underserved Americans, allowing these consumers to improve their financial health. The loans are designed to be accessible and are accompanied by a focus on responsible lending practices. OppFi differentiates itself from competitors by emphasizing transparency and best-in-class customer service, ensuring that clients understand the terms of their loans and feel supported throughout the process. The company's goal is to promote financial inclusion and help individuals rebuild their financial stability.
Chicago, IllinoisHeadquarters
2012Year Founded
$283MTotal Funding
IPOCompany Stage
Fintech, Financial ServicesIndustries
201-500Employees
Benefits
Generous vacation
Insurance benefits
401(k) matching
Employee Assistance Program
Tuition reimbursement
Subsidies for childcare costs, free financial literacy tools, 6 paid weeks of parental leave
Collaborative and supportive company culture
Risks
Increased competition in small business financing could challenge OppFi's market position.
Potential delay in Federal Reserve rate cuts may decrease loan demand.
Integration risks exist with the acquisition of Bitty Advance.
Differentiation
OppFi partners with community banks to extend credit to underserved consumers.
The company emphasizes responsible lending and financial inclusion in its business model.
OppFi offers financial literacy resources through a collaboration with Zogo.
Upsides
Acquisition of Bitty Advance diversifies OppFi's product offerings in small business financing.
Expanded $50 million credit facility supports growth and new product roll-out.
Partnerships with educational platforms enhance customer engagement and retention.
Funding
Total raised$283.00 M
Latest valuation$800.00 M
StageIPO
POST IPO DEBT
11/30/2022$150
SPAC IPO
6/30/2021$225
$800.00 MDEBT
2/28/2021$50