REDWOOD CITY, CA – November 9, 2017 – Oportun today announced it has been named to Deloitte’s Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America.
Oportun is a mission-driven financial services company that provides affordable and responsible personal loans that help people with little or no credit history establish credit and build a better future. This award follows a number of recent milestones for the company, including reaching $4 billion in loans disbursed to more than a million customers.
Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016. Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135 percent to 59,093 percent from 2013 to 2016, with median growth of 380 percent.
“We are thrilled to be recognized as a 2017 Deloitte Technology Fast 500 Winner,” said Oportun CEO Raul Vazquez. “It is a tremendous validation of our mission-driven business model. There are an estimated 45 million people in the U.S. with little or no credit history and we are building the scale we need to provide them with the opportunity to establish credit and build a better future.”
For more information about Oportun, please visit Oportun.com.
About Deloitte’s 2017 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2013 to 2016.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
Oportun is a mission-driven financial services company that uses advanced data analytics and technology to provide responsible, affordable personal loans to people with little or no credit history so they can establish credit and build a better future. The company’s centralized data analytics system calculates each loan applicant’s ability to repay, approves those loans the company believes can be paid back, and sets loan amounts and terms to fit individual budgets. Customer account information is also reported to credit bureaus to help customers establish credit history.
Since its founding in 2005, Oportun has helped more than a million customers by disbursing more than $4 billion through more than two million small dollar loans. According to research commissioned by Oportun and conducted by the Center for Financial Services Innovation (CFSI), a leading authority in consumer financial health, Oportun customers have saved more than a billion dollars by choosing Oportun loans instead of one of the other options widely available to people with little or no credit history, including payday, and pawn loans. Those alternatives are four times more expensive on average, but can be up to seven times more expensive. Oportun operates more than 250 retail locations and delivers bilingual (English/Spanish) customer service via retail locations, contact centers, and mobile to customers in Arizona, California, Illinois, Missouri, Nevada, New Mexico, Texas, and Utah.