Oportun Financial Corp, also known as Oportun, is a high-growth, mission-driven Community Development Financial Institution (CDFI) that provides inclusive, affordable financial services. The company's stock is traded on the NASDAQ under the ticker symbol OPRT. Oportun is headquartered in San Carlos, California, and has been in business since 2005.
This organization has put its focus on helping low to moderate-income and credit-challenged consumers to build a better future. Oportun does this by offering responsible and affordable personal loans, auto loans, and credit cards. They aim to provide their customers with tools to manage their finances and build their credit score, thus helping them to establish a foothold in the financial mainstream.
The company’s innovative and proprietary AI-based models assess unique and non-traditional data to measure an individual’s credit potential accurately. This approach allows Oportun to offer loans to people who may be denied by traditional banks. Since its inception, Oportun has granted over 3.9 million loans, totaling over $9 billion.
Oportun was recognized as a Time 2018 Genius Company for inventively assisting consumers without a credit history to obtain loans and establish credit. In 2020, the company was certified as a CDFI by the U.S. Department of the Treasury for promoting economic revitalization and community development in underserved markets.
Oportun’s commitment to community development has led them to work toward financial inclusion and giving back to the community. They offer financial coaching and educational tools to consumers, apart from their lending services.
Oportun Financial Corp is led by CEO Raul Vazquez, who joined the company in 2012. Under his leadership, Oportun has shown innovative ways to advance financial inclusion and has been named one of Fast Company's 'Most Innovative Companies'. Despite the challenges of the financial services industry, Oportun continues to push forward in its mission, moving beyond traditional boundaries to meet the needs of individuals who may be underserved by traditional finance institutions.
In a nutshell, Oportun Financial Corporation is not a traditional financial institution – it is a company that leverages technology to promote financial inclusion and empower consumers who are often overlooked by conventional financial systems.