OppFi

OppFi Inc. is a financial technology company based in Chicago, founded in 2012 by Todd Schwartz, who is also the CEO and Executive Chairman. The company focuses on providing installment loans to consumers with limited or no access to traditional credit, particularly targeting underserved and subprime borrowers in the United States. OppFi operates a digital lending platform called OppLoans, which offers personal installment loans that are designed to be more affordable than typical payday loans. The company emphasizes responsible lending practices by using technology and machine learning to assess credit risk, allowing it to offer loans with lower interest rates and manageable repayment plans. In addition to direct consumer loans, OppFi has expanded its offerings to include SalaryTap, an employer-sponsored loan product, and has formed partnerships to enhance its financial product range. OppFi went public in 2021 and has shown significant financial growth, with revenues increasing from $45 million in 2019 to over $210 million in 2022. The company is committed to bridging the credit access gap for millions of Americans and currently serves over 120,000 active borrowers.