| Market Capitalization (Millions $) |
349 |
| Shares
Outstanding (Millions) |
49 |
| Employees |
2,488 |
| Revenues (TTM) (Millions $) |
950 |
| Net Income (TTM) (Millions $) |
18 |
| Cash Flow (TTM) (Millions $) |
-21 |
| Capital Exp. (TTM) (Millions $) |
25 |
Business Description
Oportun Financial Corporation is a US-based financial technology company that provides affordable loans to individuals with limited or no credit history. The company was founded in 2005 in Palo Alto, California with a mission to provide access to affordable credit to those who are traditionally underserved by mainstream financial institutions.
Oportun operates in 12 states across the US, primarily serving Hispanic and Latino communities. The company has helped over5 million customers and provided over $10 billion in affordable loans since its inception.
One of the unique attributes of Oportun is its credit evaluation process. The company uses a proprietary software called the OportunScore to evaluate customers' creditworthiness. This score is designed to look beyond traditional credit scores and instead evaluates a customer's income, expenses, and other factors to determine their ability to repay a loan.
Oportun offers unsecured personal loans ranging from $300 to $10,000, with repayment terms of 6 to 46 months. The loans are designed to be affordable, with interest rates typically ranging from 19.99% to 36%, significantly lower than the rates charged by many payday lenders.
The company has also partnered with credit reporting agencies to report the repayment activity of its customers, which can help build their credit scores and provide access to more traditional credit options.
Oportun has received recognition for its efforts to expand access to credit for underserved communities. In 2019, the company received the LendIt Fintech Innovator Award for its efforts to promote financial inclusion.
Oportun is also committed to giving back to its communities. The company has partnered with nonprofits and local organizations to provide financial literacy classes, job training, and other resources to help individuals and families improve their financial health.
Overall, Oportun Financial Corporation is a mission-driven company that uses technology to provide affordable loans and expand access to credit for those who may be overlooked by traditional lenders.
Company Address: 1825 South Grant Street, Suite 850 San Mateo, 94402 CA
Company Phone Number: 810-8823 Stock Exchange / Ticker: NASDAQ OPRT
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