Oportun named to 2018 Inc. 5000 list

Mission-Driven Lender Makes Annual List of America’s Fastest Growing Private Companies

SAN CARLOS, CA – September 18, 2018 – Inc. magazine recently revealed that Oportun is on its 37th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at companies within the American economy’s most dynamic segment—its independent private businesses.

“Oportun is committed to serving the approximately 100 million low-to-moderate income adults in the United States who do not have access to affordable credit,” said Oportun CEO Raul Vazquez. “We are honored to be included in the Inc. 5000 list and to see Oportun teams recognized for the hard work they do every day to serve those shut out of the financial mainstream.”

Oportun is a mission-driven, technology-powered provider of affordable financial services that empowers its customers to build a better future. Oportun is also certified as a Community Development Financial Institution (CDFI). Oportun’s proprietary lending platform leverages advanced data analytics, machine learning, and innovative next-generation technology to provide loans at a fraction of the cost of alternatives from many of the other financial services companies serving low-to-moderate income communities and people with limited credit history. According to research commissioned by Oportun and conducted by the Center for Financial Services Innovation (CFSI), a leading authority on consumer financial health, Oportun customers have already saved an estimated $1.2 billion dollars by choosing Oportun loans instead of one of the other alternatives widely available to individuals with limited credit history. Those alternatives — which include payday, pawn loans and others — are estimated to be four times more expensive on average but can be up to seven times more expensive.

Since its founding in 2005, Oportun has served more than 1.2 million customers and disbursed more than $5.4 billion through 2.6 million affordable loans. Oportun’s use of alternative data allows the company to score 100% of applicants, enabling the company to serve customers who do not have a credit score or those who are mis-scored. Oportun also estimates it has helped more than 600,000 customers who came to Oportun without a FICO score start establishing a credit history.

Oportun operates more than 280 retail locations and delivers bilingual (English/Spanish) customer service via retail locations, contact centers, and its mobile platform to customers in Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Mexico, Texas, Utah, and Wisconsin.

The 2018 Inc. 5000 is ranked according to percentage revenue growth when comparing 2014 and 2018. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

“If your company is on the Inc. 5000, it’s unparalleled recognition of your years of hard work and sacrifice,” says Inc. editor in chief James Ledbetter. “The lines of business may come and go, or come and stay. What doesn’t change is the way entrepreneurs create and accelerate the forces that shape our lives.”

About Inc. Media

Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Inc. took home the National Magazine Award for General Excellence in both 2014 and 2012. The total monthly audience reach for the brand has been growing significantly, from 2,000,000 in 2010 to more than 18,000,000 today. For more information, visit www.inc.com.

The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates the remarkable achievements of these companies. The event also offers informative workshops, celebrated keynote speakers, and evening functions.

For more information on Inc. and the Inc. 5000 Conference, visit http://conference.inc.com/.

About Oportun

Oportun’s mission is to provide inclusive, affordable financial services that empower its customers to build a better future.

Oportun uses innovative advanced data analytics, machine learning, and next-generation technology to provide responsible and affordable personal loans to people with low-to-moderate incomes, many of whom have little or no credit history. Oportun’s proprietary lending platform determines each customer’s ability to repay, approves those loans the company believes can be paid back, and sets loan amounts and payments to fit customer budgets. Customer account information is reported to nationwide credit bureaus to help customers establish credit history.

Oportun operates more than 280 retail locations and delivers bilingual (English/Spanish) customer service through an omni-channel approach that includes retail locations, contact centers, and mobile to customers in eleven states: Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Mexico, Texas, Utah, and Wisconsin.

In recognition of Oportun’s goals of increasing economic opportunity for its clients, promoting community development, and serving low-income or underserved communities, Oportun has been certified by the United States Department of Treasury as a Community Development Financial Institution (CDFI) since 2009.