Oportun Announces $306 Million Warehouse Expansion

SAN CARLOS, Calif., Sept. 23, 2024 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced the closing of an annex and expansion of its long-term storage facility. Features of the facility include:

Total commitment of $306 million
Goldman Sachs as senior lender – and Jefferies as mezzanine lender – both existing, long-standing lenders to Oportun
New two-year fiscal period
Secured by Oportun unsecured and secured personal loans

“The expansion of this warehouse extends Oportun’s long-standing credit relationship,” said Jonathan Coblentz, Oportun’s chief financial officer. “With the support of our lenders at Goldman Sachs and Jefferies, this committed financing will help fuel Oportun’s responsible growth for years to come.”

Oportun has diverse sources of capital, including committed warehouse facilities, asset-backed securitization, corporate debt financing and whole loan sales.

About Opportun

Oportun (Nasdaq: OPRT) is a mission-driven financial services company that empowers members to achieve their financial goals. Through smart borrowing, saving and budgeting capabilities, Oportun gives members the confidence to build a better financial future. Since its inception, Oportun has provided more than $18.7 billion in responsible and affordable credit, saved members more than $2.4 billion in interest and fees, and helped members save an average of more than $1,800 annually. For more information, visit Oportun.com.

About Goldman Sachs

Goldman Sachs is a leading global financial institution that offers a wide range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York City and maintains offices in all major financial centers around the world.

About Jefferies

Jefferies (NYSE: JEF) is a leading global full-service investment banking and capital markets firm that provides advisory, sales and trading, research, wealth management and asset management services. With more than 40 offices around the world, we provide expertise and insights to investors, companies and governments. For more information, visit www.jefferies.com.

Contact for investors
Dorian the Hare
(650) 590-4323
[email protected]

Media contact
Michael Azzano
Cosmo PR for Oportun
[email protected]
(415) 596-1978