OppFi
OppFi is a publicly traded digital finance platform that provides AI-underwritten personal installment loans to underbanked American consumers across 40 states, operating through a bank-fintech partnership model with community banks including FinWise, CCBank, and First Electronic Bank.
- Company typePublic
- Founded2012
- HeadquartersChicago, United States
- Headcount251–500
- GTM typeB2C
- OfferingServices
What OppFi does
OppFi (NYSE: OPFI), founded in 2012 by Todd Schwartz and headquartered in Chicago, is a publicly traded tech-enabled digital finance platform that provides personal installment loans to underbanked American consumers. The company operates through a bank-fintech partnership model, working with community banks including FinWise Bank, CCBank, and First Electronic Bank, which originate the loans under their bank charters while OppFi supplies the technology platform, underwriting, and servicing. It serves a stated addressable market of 48 million everyday Americans who lack access to traditional credit, with 1.6 million customers served across 40 states as of 2025.
The core product is OppLoans, an AI-powered installment lending platform underwritten by the proprietary Model 6 engine, which evaluates 500+ attributes across 15+ billion data points accumulated over 13+ years of operations. The platform delivers a 79% auto-approval rate, same-day credit decisions for 84% of new customers, and same-day funding for 20%, with transparent simple-interest amortizing terms and credit reporting to all three major bureaus. Supporting products include the TurnUp referral program, the OppU financial education platform, and a new line of credit product and Model 6.1 expected in Q3 2026. OppFi also holds a 35% equity interest in Bitty (small business financing) and has agreed to acquire BNC National Bank for ~$130M to obtain a national bank charter and enter SBA, secured consumer, and wealth management.
OppFi generates revenue primarily through net interest income on originated loans (FY2025 revenue of $597.1M, up 13.5% YoY; GAAP net income of $146.2M, up 74.4% YoY). The company is publicly listed since a 2021 SPAC merger with FGNA, is pursuing a corporate restructuring from Up-C to a traditional C-Corp (announced May 2026), and has ~72% insider ownership with founder/CEO Todd Schwartz retaining significant control.
OppFi firmographics
Firmographics- Name
- OppFi
- Legal name
- Opportunity Financial, LLC
- Website
- https://oppfi.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- OppFi is a publicly traded digital finance platform that provides AI-underwritten personal installment loans to underbanked American consumers across 40 states, operating through a bank-fintech partnership model with community banks including FinWise, CCBank, and First Electronic Bank.
- Ownership category
- akta.pro rank
OppFi industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Other Nondepository Credit Intermediation (52229), Activities Related to Credit Intermediation (5223)
- SIC
- Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)
- akta.pro secondary industries
- Underwriting Automation & Income/Employment Verification (FSAGAHAD), Alternative Data & Credit Scoring (Cashflow, Telco, Utility, Open Banking) (FSAGAHAC), Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)
Keywords
Where OppFi is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
OppFi business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Others
Revenue model
- Loan Interest Income: OppFi earns interest income through personal installment loans originated by its bank partners. The company serves subprime borrowers with AI-powered underwriting while bank partners fund and originate the loans under their bank charters.
- Net Interest Income: Total revenue for FY2025 reached $597.1 million, up 13.5% from $526 million in 2024. Revenue is driven by the spread between interest earned on loans and cost of funding.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Personal Installment Loans |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
OppFi product offering
Product offeringCore offering
OppFi operates a tech-enabled digital finance platform that delivers personal installment loans to underbanked Americans through a bank-fintech partnership model. The company provides AI-powered underwriting, loan servicing, and a digital application experience, while partner community banks (FinWise Bank, CCBank, First Electronic Bank) originate and fund the loans under their bank charters. The product targets subprime borrowers who lack access to traditional credit, offering same-day funding, transparent loan terms with no hidden fees, and credit-building reporting to the three major bureaus.
Product overview
OppFi operates as a tech-enabled digital finance platform that works with bank partners (FinWise Bank, CCBank, First Electronic Bank) to provide financial products for underserved everyday Americans. The core product is OppLoans, an AI-powered installment lending platform offering same-day funding, transparent terms, and credit-building features. The product suite includes the TurnUp referral program connecting applicants with lower-rate options and the OppU financial education platform. A new line of credit product is planned for summer 2026. Upon closing of the BNC National Bank acquisition (expected Q4 2026), the company will expand into SBA lending, secured consumer lending, and wealth management services under a national bank charter. The company also holds a 35% equity interest in Bitty for small business financing.
Differentiator
Problem solved
Functional benefit
Products and services
- OppLoans AI-powered digital installment lending platform offering personal loans to underserved consumers. Features same-day funding, transparent loan terms with simple interest and amortization, no hidden fees, and credit reporting to three major bureaus. Originated through bank partnerships with FinWise Bank, CCBank, and First Electronic Bank.
- TurnUp Program Proprietary referral program that connects loan applicants with lower-rate credit options, including directing them to competing financial providers when those offer better terms. Demonstrates the company's ethical lending commitment.
- OppU Financial education platform providing articles on financial subjects including saving, budgeting, and money management. Part of the company's financial wellness initiatives.
Companies that use OppFi
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
OppFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
OppFi partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered flagship, supporting and core.
- BNCCORP / BNC National BankflagshipOppFi agreed to acquire BNCCORP Inc. and its subsidiary BNC National Bank for approximately $130 million in a cash-and-stock deal. BNC National Bank has approximately $1.1 billion in total assets and $1.0 billion in deposits. The acquisition will provide OppFi with a national bank charter and is expected to close in Q4 2026.
- BittysupportingOppFi acquired a 35% equity interest in Bitty, a small business financing platform, with options for future acquisition of majority and full ownership. This expands OppFi's presence in the small business credit market.
- CCBankcoreCCBank (Utah) is one of OppFi's banking partners that originates loans through the fintech partnership model. The bank provides the charter while OppFi provides the technology platform and underwriting.
- First Electronic BankcoreFirst Electronic Bank partners with OppFi to offer financial products to underbanked consumers through the bank-fintech partnership model.
- FinWise BankcoreFinWise Bank is a Utah-chartered bank that partners with OppFi to originate loans. A California court ruled in 2026 that FinWise Bank was the true lender (not OppFi), validating the partnership under the valid-when-made doctrine and DIDMCA.
- ZogocoreZogo is a gamified personal finance app with over 1,200 lessons. OppFi sponsors the app to encourage customers to improve their financial knowledge. Users earn 'pineapples' for lessons that can be redeemed for retailer rewards. 2,250 users were referred through the partnership in 2025.
- SpringFourcoreSpringFour provides access to over 25,000 vetted nonprofit and government resources to help consumers meet financial objectives, reduce household expenses, and avoid payment delinquencies. OppFi made 173,792 financial health referrals through the partnership in 2025.
- ExperiansupportingOppFi offers Experian Boost to customers, allowing them to raise their FICO Score instantly by getting credit for phone, utility, and streaming service bills they've been paying.
Scale indicators11 records
Recent moves9 records
Expansion highlights6 records
OppFi competitors and assessment
Company assessmentDirect peers
- Enova International: Enova International is a nonprime online consumer and small business lender offering installment loans and lines of credit through its own platform. It is the closest direct competitor to OppFi, operating a similar fintech-enabled subprime lending model with comparable target customers and product structure.
- OneMain Holdings: OneMain Holdings is the largest installment lender to nonprime consumers in the US, offering personal loans through a hybrid digital and branch-based model. It competes head-to-head with OppFi in unsecured personal installment lending to subprime borrowers.
- World Acceptance Corporation: World Acceptance provides short-term installment loans and related tax preparation services to underbanked consumers. It targets a similar subprime demographic with comparable unsecured personal loan products and high APR pricing.
- Regional Management Corp. Regional Management originates and services small-dollar installment loans primarily to underbanked consumers through a branch network across the US. It is a direct subprime installment lending peer with similar customer profile and product terms.
- CURO Group Holdings: CURO Group is a tech-enabled consumer finance company offering installment, revolving, and other credit products to underbanked consumers. It directly competes with OppFi in the high-APR subprime installment loan category.
- Avant: Avant is an online lending platform providing personal installment loans to underbanked middle-income consumers. It shares OppFi's digital-first, subprime-focused installment loan model and customer acquisition approach.
Emerging players
- Upstart Holdings: Upstart is an AI-powered lending marketplace using alternative data to underwrite personal loans. While it serves a more prime-leaning customer, it competes with OppFi on technology differentiation (AI underwriting) and is an indirect competitor in online personal lending.
- Affirm: Affirm is a BNPL and consumer credit provider offering installment-style financing at the point of sale. While its products differ (shorter-term, POS-focused), it is an emerging competitor in alternative consumer credit that pressures OppFi's positioning.
Broad incumbents
- LendingClub: LendingClub operates a digital lending marketplace for personal loans and now operates a national bank (LendingClub Bank). It competes with OppFi in the broader online personal loan space, with overlapping technology but a more prime customer base.
- SoFi Technologies: SoFi is a broad consumer finance platform offering personal loans, banking, and wealth management through a national bank charter. It overlaps with OppFi's planned BNC-enabled expansion into secured lending and wealth management.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
OppFi social profiles
Digital presenceOppFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
OppFi leadership team
Management profileNumber of profiles
Profiles12 records
OppFi subsidiaries and ownership
Company hierarchySubsidiaries1 record
OppFi funding detail
Funding detailFunding overview
Funding rounds4 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OppFi M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OppFi
What does OppFi do?
OppFi operates a tech-enabled digital finance platform that delivers personal installment loans to underbanked Americans through a bank-fintech partnership model. The company provides AI-powered underwriting, loan servicing, and a digital application experience, while partner community banks (FinWise Bank, CCBank, First Electronic Bank) originate and fund the loans under their bank charters. The product targets subprime borrowers who lack access to traditional credit, offering same-day funding, transparent loan terms with no hidden fees, and credit-building reporting to the three major bureaus.
Is OppFi a public or private company?
OppFi is a public company. It is classified as public and is currently operating.
When was OppFi founded?
OppFi was founded in 2012. It employs 251 to 500 people.
Where is OppFi based?
OppFi is headquartered in Chicago, United States, in the North America region.
How does OppFi make money?
Two revenue lines are on record. Loan Interest Income is the primary driver. The others are net Interest Income.
Who are OppFi's main competitors?
Direct peers on record are Enova International, OneMain Holdings, World Acceptance Corporation, Regional Management Corp., CURO Group Holdings and Avant. Emerging players are Upstart Holdings and Affirm. Broad incumbents are LendingClub and SoFi Technologies.
Does OppFi have an API?
No public API is recorded for OppFi.
What industry is OppFi in?
OppFi's product category is Consumer Lending. Its primary akta.pro industry code is FSAKAAAK, Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment), with a secondary code of FSAGAHAD, Underwriting Automation & Income/Employment Verification. Its NAICS code is 5222 and its SIC code is 6141.