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Overview
OppFi partners with community banks to expand access to credit for everyday Americans who are often denied by traditional lenders. It uses technology to enable the underwriting, origination, and servicing of personal loans through these bank partners, with a focus on responsible lending and financial inclusion. Revenue comes from interest and fees on these loans, while emphasis on best-in-class customer service and transparency supports positive financial outcomes for clients. Unlike lenders that operate alone, OppFi differentiates itself by linking community banks with a tech-enabled platform to reach underserved borrowers and help them rebuild financial health. The company’s goal is to broaden credit access while promoting responsible lending and measurable improvements in the financial well-being of its customers.
About OppFi
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
IPO
Headquarters
Chicago, Illinois
Founded
2012
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Simplify's Take
What believers are saying
- Q1 2026 revenue hit a record $151.9 million, up 8.3% year over year.
- Management kept 2026 guidance at $650 million-$675 million revenue and $1.76-$1.84 adjusted EPS.
- Board authorized a new $40 million buyback on May 6, 2026, signaling confidence.
What critics are saying
- Q1 2026 originations fell 7%; growth now depends on higher receivables, not volume.
- Net charge-offs rose to 42.5% of revenue in Q1 2026, pressuring margins.
- OCC, Federal Reserve, and FDIC approvals can still block BNCC; charter failure would cripple expansion.
What makes OppFi unique
- OppFi’s bank-partner model won California summary judgment on May 19, 2026.
- BNCC acquisition adds BNC National Bank and $1 billion deposits, closing targeted Q4 2026.
- Model 6 underwriting and LOLA migration support faster approvals and new product expansion.
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Funding
Total Funding
$575M
Above
Industry Average
Funded Over
4 Rounds
Benefits
Generous vacation
Insurance benefits
401(k) matching
Employee Assistance Program
Tuition reimbursement
Subsidies for childcare costs, free financial literacy tools, 6 paid weeks of parental leave
Collaborative and supportive company culture
Stock Price
Company News
OppFi, a fintech lender, reported steady first-quarter 2026 results whilst shifting towards a bank-enabled, deposit-funded model through its pending BNCC acquisition. Revenue increased 8.3% year-on-year to a record $151.9 million, and receivables grew 9.4% to $444.9 million, despite net originations declining 7.0% to $176.0 million. The BNCC acquisition is expected to add approximately $1.0 billion in low-cost deposits and drive over 25% adjusted earnings per share accretion in the first year. Management maintained full-year 2026 guidance of $650 million to $675 million in revenue and $1.76 to $1.84 adjusted EPS. The company is investing in platform expansion, with new product launches planned throughout 2026, including a line of credit offering this summer.
OppFi, a tech-enabled digital finance platform, reported first quarter 2026 results with record revenue of $151.9 million, up 8.3% year over year. Net income increased 165% to $54 million, whilst adjusted net income fell 11.2% to $30 million. The company's board approved a new $40 million share repurchase programme, replacing the previous plan. During the quarter, OppFi repurchased over one million shares for $9.9 million at an average price of $9.54 per share. CEO Todd Schwartz highlighted the company's strategic focus on combining OppFi's digital platform with BNC's national bank charter to unlock growth opportunities and product diversification. The merger is expected to simplify regulatory supervision under the OCC and Federal Reserve, positioning the company for long-term scalability.
/PRNewswire/ -- BNCCORP, INC. (OTCQX Markets: BNCC) ("BNCC") and its wholly owned subsidiary, BNC National Bank ("BNC") announced today it has signed a...
OppFi Inc. reported record 2025 performance driven by its Underwriting Model 6, which improved risk-based pricing and enabled larger loan amounts. The fintech company achieved a 79% auto-approval rate and a 48% year-over-year increase in originations. The company plans double-digit growth in revenue and adjusted net income for 2026. Key initiatives include launching Model 7.0 in Q3 2026 to refine predictive accuracy, migrating to its new LOLA software system, and introducing a line of credit product to enter new geographic markets. OppFi addressed a summer delinquency spike, attributed to declining consumer sentiment, through rapid underwriting adjustments. The company recorded a $12 million non-cash gain from declining warrant values. Management highlighted improved operational efficiency and strategic cost discipline whilst monitoring energy price fluctuations as potential repayment headwinds.
OppFi, a tech-enabled digital finance platform, reported record annual revenue of $597 million for 2025, up 13.5% year over year. Net income increased 74.4% to $146.2 million, whilst adjusted net income rose 69.1% to $139.8 million. The Chicago-based company, which partners with banks to offer financial products to underserved Americans, achieved diluted earnings per share of $0.99, up from $0.36 in 2024. Adjusted EPS reached a record $1.59, up 66.6% year over year. OppFi ended 2025 with record receivables of $493.1 million and total net originations of $899.3 million. The company repurchased 1.5 million shares for $15.5 million during the year. For 2026, OppFi projects revenue of $650 million to $675 million and adjusted net income of $153 million to $160 million.
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About OppFi
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
IPO
Headquarters
Chicago, Illinois
Founded
2012
OppFi is Hiring for 4 Jobs on Simplify!
Find jobs on Simplify and start your career today