OppFi

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.

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

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

• Consumer installment lending
• Subprime credit access
• Bank-fintech partnerships
• AI-powered underwriting
• Digital lending platform

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Others

Revenue model

1. 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.
2. 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

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core 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.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered flagship, supporting and core.

• BNCCORP / BNC National BankflagshipStrategic or Co-development Partner · 29 April 2026OppFi 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.
• BittysupportingStrategic or Co-development Partner · 1 August 2024OppFi 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.
• CCBankcoreChannel Partner/ Reseller/ DistributorCCBank (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 BankcoreChannel Partner/ Reseller/ DistributorFirst Electronic Bank partners with OppFi to offer financial products to underbanked consumers through the bank-fintech partnership model.
• FinWise BankcoreChannel Partner/ Reseller/ DistributorFinWise 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.
• ZogocoreStrategic or Co-development PartnerZogo 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.
• SpringFourcoreStrategic or Co-development PartnerSpringFour 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.
• ExperiansupportingTechnology or IntegrationOppFi 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

Direct 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

• LinkedInlinkedin.com/company/oppfi

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OppFi