Oportun Closes $150M Credit Facility With WebBank

Oportun announced the closing of a $150 million credit facility with WebBank, a Utah-chartered industrial bank well known for its banking-as-a-service partnerships with fintech companies. The facility is secured by Oportun's assets and provides additional capital to fund its consumer lending operations. WebBank serves as a critical BaaS infrastructure partner, originating loans on behalf of numerous fintech platforms under its bank charter.

For Oportun, this credit facility strengthens its balance sheet and supports continued growth of its affordable lending products targeting underserved consumers. Financial terms beyond the $150 million total were not disclosed. The deal underscores the ongoing importance of bank-fintech credit facility arrangements in the embedded lending ecosystem.