A FinTech offering “everyday credit” has announced it will go public via a Special Purpose Acquisition Company (SPAC).
In Brief:
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Opportunity Financial (OppFi) is a consumer lending FinTech based in Chicago.
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It focuses on financial products for the 60mn people in the US who lack mainstream financial services.
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The company will be listed on the New York Stock Exchange under OPFI.
What does this mean?
OppFi, operating for what it calls the “everyday customer”, has facilitates over $2.3bn across 1.5mn loans so far.
Todd Schwarz, founder and Executive Chairman, commented: “This is an exciting stage in the company's evolution, which we believe will enable us to further expand our mission and be the financial destination for the tens of millions of everyday consumers that need access more than ever.”
