OppFi (OPFI) Status Update summary

Mission and business overview

• Focused on building trust and empowering financial inclusion for underserved Americans.

• Operates as a tech-enabled, specialty finance platform broadening credit access via community banks.

• Achieved nine consecutive years of positive net income through automation and efficient tech use.

• Facilitated over $6.4 billion in loans across 3.7 million transactions, emphasizing social impact partnerships.

• Recently acquired a 35% stake in Bitty Advance, entering small business financing.

Market and customer insights

• Targets 60 million credit-challenged Americans, many living paycheck to paycheck and struggling to access credit.

• Core product, OppLoans, offers simple interest, amortizing installment loans with no fees or penalties.

• Implements programs to help customers find lower APR products and improve credit scores through reporting.

• Maintains high customer satisfaction with strong Trustpilot and Credit Karma ratings and a 77 NPS score.

Business model and operations

• Utilizes a bank partnership model with three FDIC-insured banks originating loans in 40 states.

• Employs a dynamic risk underwriting model using over 1,000 data points, adapting to macroeconomic trends.

• Marketing channels include online marketplaces, direct mail, email, and SEO, with existing customers driving over half of Q2 originations.