Oportun Financial Corp, commonly known as Oportun, is a financial technology company that provides affordable and responsible loans to individuals with limited credit history. The company was founded in 2005 by James Gutierrez and Raul Vazquez with the mission of expanding access to affordable credit for underserved communities. Oportun is headquartered in San Carlos, California, and operates in several states across the United States.
Oportun focuses on serving individuals who have traditionally been excluded from mainstream financial services due to their limited credit history or lack of credit scores. The company uses proprietary technology and advanced analytics to assess borrowers' creditworthiness based on their income, employment, and other relevant data points. This approach enables Oportun to provide personalized loan offers with fair and transparent terms. As such, one of the main offerings are the installment loans ranging from $300 to $9,000 with terms of 6 to 46 months. These loans are typically used for various purposes, including emergency expenses, debt consolidation, and building credit. Oportun's loan process is streamlined and customer-centric, aiming to provide borrowers with a quick and convenient borrowing experience.
Oportun is a publicly traded company and is listed on the Nasdaq Stock Market under the ticker symbol "OPRT." Going public in 2019, the company raised capital to support its growth and expansion. As of the time of writing, Oportun continues to expand its presence and serve more communities across the United States.