Money moves: Personal lender Oportun Financial files for a $50 million IPO

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Oportun Financial, which provides installment loans to low and moderate income consumers with limited credit history, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.

The San Carlos, CA-based company was founded in 2005 as Progress Financial (Progreso Financiero) and changed its name to Oportun Financial in 2015. The company booked $523 million in gross revenue for the 12 months ended March 31, 2019 and plans to list on the Nasdaq under the symbol OPRT. Oportun Financial filed confidentially on July 18, 2018. Barclays, J.P. Morgan, Jefferies, and Keefe Bruyette Woods are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Money moves: Personal lender Oportun Financial files for a $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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