One of Oportun’s key strengths is the diversity of its management team, which represents the brightest from the financial services, retail, technology and community development sectors.
Raul Vazquez, Chief Executive Officer
Jonathan Coblentz, CFO and Chief Administrative Officer
Scott Harvey, Chief Legal Officer and Corporate Secretary
Patrick Kirscht, Vice President, Risk Management and Chief Credit Officer
David Needham, Chief Technology Officer
Joan Aristei, Chief Compliance Officer, Compliance & Enterprise Risk
Matthew Jenkins, Chief Operations Officer
Ezra Garrett, Vice President, Government & Community Relations
Nicholas LeCuyer, SVP, Retail, Marketing and Product Management
Board of Directors
The Honorable Aida M. Alvarez
The Honorable Aida M. Alvarez has served as a member of Oportun’s board of directors since August 2011. In addition to serving on our board of directors, Ms. Alvarez has served as member of the board of directors of Wal-Mart Stores, Inc. since 2006 and Zoosk, Inc., an online social media company, since February 2014. Ms. Alvarez is the former Administrator of the U.S. Small Business Administration and was a member of President Clinton’s Cabinet from 1997 to 2001. From 1993 to 1997, Ms. Alvarez was the founding director of the Office of Federal Housing Enterprise Oversight. Prior to 1993, she was a vice president in public finance at First Boston Corporation, an investment bank, and Bear Stearns & Co., Inc., an investment bank. She also previously served on the board of directors of PacifiCare Health Systems, Union Bank, N.A. and UnionBanCal Corporation. Ms. Alvarez received a B.A. in English literature from Harvard College, as well as honorary doctorates from Bethany College, Iona College, Mercy College and the Inter-American University of Puerto Rico. Ms. Alvarez was elected to serve on the Harvard Board of Overseers. We believe Ms. Alvarez’s extensive experience in government and public service, investment banking and finance, and her knowledge of our company enables her to make valuable contributions to our board of directors.
Carl Pascarella, Executive Advisor, TPG Capital
Carl Pascarella has served as a member of Oportun’s board of directors since March 2010. Mr. Pascarella is an Executive Advisor at TPG Capital, a leading global private equity firm, and has served in that capacity since August 2005. Mr. Pascarella joined TPG after retiring in 2005 from Visa U.S.A., Inc., a financial services company, where he served as the President and Chief Executive Officer for 12 years. Mr. Pascarella also served as President and CEO of Visa International’s Asia-Pacific Region and Director of the Asia-Pacific Regional Board. Prior to joining Visa International, Mr. Pascarella held positions as Vice President of the International Division of Crocker National Bank and Vice President, Metropolitan Banking, at Bankers Trust Company. Mr. Pascarella received a M.S. in Management from the Stanford Sloan Program at the Graduate School of Business at Stanford University. We believe Mr. Pascarella’s leadership background as well as his extensive management experience in our industry enable him to make valuable contributions to our company and our board of directors.
Thomas Patterson, Madrone Capital Partners
Thomas Patterson has served as a member of Oportun’s board of directors since November 2009. Mr. Patterson is a General Partner at Madrone Capital Partners, an investment firm, and has served in that capacity since May 2005. Prior to joining Madrone, Mr. Patterson was at Weston Presidio, a private equity firm focused on growth equity and leveraged buyout transactions, from 1995 until 2004. Prior to Weston Presidio, Mr. Patterson worked for four years at McKinsey and focused on the financial services and building materials industries. Mr. Patterson received an A.B., with honors, from Harvard College and an M.B.A. from Harvard Business School. We believe that Mr. Patterson’s management, industry and financial expertise enables him to make valuable contributions to our company and our board of directors.
Dave Strohm, Greylock Partners
David Strohm has served as a member of our board of directors since February 2007. Mr. Strohm has been affiliated with Greylock Partners, a venture capital firm, since 1980, where he has served as a Partner since January 2001, and previously served as a General Partner from 1983 to 2001. Mr. Strohm currently serves as a director of several private companies. Mr. Strohm was previously also a director of DoubleClick, Inc. from 1997 to 2005, Internet Security Systems, Inc. from 1996 to 2006, SuccessFactors, Inc. from 2001 to 2010, EMC Corporation from 2003 to October 2015 and VMware, Inc. from 2007 to October 2015. Mr. Strohm received a B.A. from Dartmouth College and an M.B.A. from Harvard Business School. We believe that Mr. Strohm’s extensive experience as an investment professional in our industry and as a director of various companies, many of which are publicly traded, enables him to make valuable contributions to our company and our board of directors.
Jules Maltz, General Partner, Institutional Venture Partners
Jules Maltz has served as a member of Oportun’s board of directors since August 2013. Mr. Maltz is a General Partner at Institutional Venture Partners, or IVP, where he has worked since August 2008. At IVP, Mr. Maltz focuses on later-stage venture investments in rapidly growing internet and software companies. Mr. Maltz currently serves on the board of directors of Indiegogo, NerdWallet, RetailMeNot, TuneIn, and Yext. Mr. Maltz received a B.A., magna cum laude, in Economics from
Yale University and an M.B.A. from Stanford University. We believe Mr. Maltz’s experience as an investor and board member in rapidly growing internet and software companies enables him to make valuable contributions to our board of directors.
Louis Miramontes, KPMG LLP (Retired Partner)
Louis P. Miramontes has served as a member of Oportun’s board of directors since October 2014. Mr. Miramontes is a CPA and financial executive. He was a senior partner at KPMG LLP, a public accounting firm, from 1986 to September 2014, where he served in leadership functions, including Managing Partner of the KPMG San Francisco office and Senior Partner KPMG’s Latin American Region. Mr. Miramontes was also an audit partner directly involved with providing audit services to public and private companies, which included working with client boards of directors and audit committees regarding financial reporting, auditing matters, SEC compliance and Sarbanes-Oxley regulations. Mr. Miramontes received a B.S. in Business Administration from California State University, East Bay, and he is a Certified Public Accountant in the State of California. We believe Mr. Miramontes is qualified to serve on our board of directors due to his professional experience and deep audit and financial reporting expertise.
Jo Ann Barefoot, CEO Barefoot Innovation Group
Jo Ann Barefoot joined the Oportun Board of Directors in October 2016. Ms. Barefoot is a Senior Fellow at the John F. Kennedy School of Government’s Mossovar-Rahmani Center for Business & Government at Harvard University, and the CEO of Barefoot Innovation Group. In this role, she regularly writes, speaks, and advises on the intersection of financial technology and regulation to facilitate new solutions for consumers. Ms. Barefoot also serves as a consultant to a number of consumer finance companies, and invests and advises fintech startups. She served for three years on the Consumer Advisory Board of the Consumer Financial Protection Bureau (CFPB), and currently sits on the boards of the Center for Financial Services Innovation (CFSI) and the National Foundation for Credit Counseling (NFCC). She also hosts the podcast show Barefoot Innovation and is co-founder of the RegTech firm, Hummingbird Fintech. Earlier, Ms. Barefoot was the first female Deputy Comptroller of the Currency and led the creation of that agency’s original consumer protection unit. She has also served on the staff of the U.S. Senate Committee on Banking, Housing and Urban Affairs; as Co-Chair of the consulting firm Treliant Risk Advisors, as a Partner and Managing Director at KPMG Consulting; and as Director of Mortgage Finance for the National Association of Realtors.
Raul Vazquez, CEO, Oportun
Raul Vazquez has served as Chief Executive Officer and as a member of Oportun’s board of directors since April 2012. Prior to joining Oportun, Mr. Vazquez served as an Executive Vice President of Global e-Commerce at Wal-Mart Stores Inc., a retail company, from February 2011 to August 2011. Mr. Vazquez also served as Executive Vice President and President of Wal-Mart West at Wal-Mart Stores Inc. from February 2010 to February 2011. He served as Chief Executive Officer of Walmart.com from February 2007 to February 2010. He joined Walmart.com in 2002. Mr. Vazquez has served as member of the board of directors of Staples, Inc. since 2013. Mr. Vazquez received a B.S. and M.S. in Industrial Engineering from Stanford University and an M.B.A. from the Wharton Business School at the University of Pennsylvania.
Oportun has raised over $265 million of equity capital from leading venture capital funds, angel investors, and its employees. This capital has allowed Oportun to build its business, pursue its mission, and serve its customers. Some of our leading investors are listed below.
The Catalyst Fund of CFSI
The Center for Financial Services Innovation develops and distributes real-world tested research and strategy, provides funding to promising companies, and facilitates cross-sector business collaboration. They work with banks, credit unions, technology vendors, alternative service providers, consumer advocates and policy makers to forge the pioneering relationships, products and strategies that will transform industry practice and the lives of underbanked consumers across the economic, geographic and cultural spectrum.
Charles River Ventures
Founded in 1970, Charles River Ventures is one of the nation’s oldest and most successful early-stage venture capital firms with approximately $2.1 billion under management. CRV is dedicated to helping exceptional entrepreneurs turn their ideas into the next category leaders in high growth technology and media sectors. Over the past 10 years, CRV funds have been ranked among the industry’s top performers. CRV has offices in Boston, MA and Menlo Park, CA. For more information visit www.crv.com.
Core Innovation Capital
Core Innovation Capital is the only venture capital fund that invests exclusively in financial technology companies serving America’s emerging middle class. Its target segment consists of more than 70 million consumers, who generate over $1 trillion in annual income and spend more than $78 billion in fees and interest on financial services per year. The fund partners with proven entrepreneurs who seek above-market-rate returns and share its vision to improve the lives of low- to moderate-income Americans. For more information about Core Innovation Capital, visit www.corevc.com.
DAG Ventures leads mid-stage and growth financing rounds into promising portfolio companies of select, proven early-stage VC partnerships. Aside from our highly focused investment model, we believe in differentiation through service. Our firm is built to deliver consistent, expeditious and superior service to our most important constituencies: our LPs, portfolio companies and select early-stage VC partnerships. DAG Ventures was spun-off in 2004 from Duff Ackerman & Goodrich, a private equity investment firm focused on investments in the communications and media industries. Today, with support from a diverse, global set of LPs, DAG Ventures manages $1.8 billion across a portfolio of over 160 companies in a wide array of technology sectors.
Glynn Capital Management
Glynn Capital Management is a technology investment firm focused on investing in leading public and private technology growth companies.
Founded in 1965, Greylock Partners is one of the world’s leading venture capital firms. Over the past 43 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an “invited guest” in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Continental Cable, Data Domain, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Greylock’s offices are located in Silicon Valley, the Boston area and Israel. For more information, please visit www.greylock.com.
Institutional Venture Partners
With $4 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies, 98 of which have gone public. IVP is one of the top-performing firms in the industry and has a 33-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as AppDynamics, ArcSight (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), ngmoco (DeNA), Polycom (PLCM), Pure Storage, RetailMeNot (SALE), Seagate (STX), Shazam, Snapchat, Supercell, Synchronoss (SNCR), Tivo (TIVO), Twitter (TWTR), and Zynga (ZNGA). For more information, visit http://ivp.com or follow IVP on Twitter: @ivp.
Madrone Capital Partners
What it means to be a CDFI
Oportun, formerly Progreso, was certified by the U.S. Treasury Department in 2009 as a Community Development Financial Institution (CDFI).
- Community Development Financial Institutions – or CDFIs – are mission-driven financial institutions that are dedicated to providing financial services to meet the needs of economically disadvantaged individuals within underserved communities.
- CDFIs invest in local communities and the residents who live there by providing critically needed financing often unavailable from mainstream financial institutions.
- CDFIs are certified by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund – known as the CDFI Fund. In order to become a certified CDFI, the financial institution must: have a primary mission of promoting community development; provide financial products and services; serve one or more defined low-income target markets; maintain accountability to the community it serves; and be a legal non-governmental entity.
- All CDFIs share a common mission of serving low-income communities. CDFIs are commonly loan funds, credit unions, community banks, or venture capital funds.
- Certified CDFIs are part of a national network promoting economic growth in America’s underserved communities by financing businesses, creating jobs, and rebuilding neighborhoods.
- As a CDFI, Oportun puts the community first and values local economic growth.