Oportun Financial Corporation to Divest its Credit Card Portfolio

Oportun Financial Corporation to divest its Credit Card Portfolio

Oportun Financial Corporation has announced its intention to sell its credit card portfolio. This strategic move marks a significant shift for the company, which has primarily focused on providing personal loans to underserved communities.

The decision to divest comes as Oportun aims to streamline its operations and focus on its core lending business. The credit card portfolio, which has shown potential for growth, will be sold to enhance Oportun’s financial position and allow for further investments in its primary offerings.

Oportun has expressed confidence that this sale will enable the company to better serve its customer base by allocating resources more effectively. The move is part of a broader strategy to refine its product line and strengthen its commitment to financial inclusion.

As the company progresses with the sale, it will continue to prioritize customer service and support during the transition. Oportun remains dedicated to its mission of providing accessible financial solutions to those in need.