Opportunity Financial (OppFi), a financial technology platform, closed an expanded $50 million corporate credit facility with Atalaya Capital Management. The proceeds of the facility will be used to refinance existing corporate indebtedness and to provide growth capital to broaden credit access to consumers.
“Our expanded relationship with Atalaya Capital Management not only further validates the strength of our mission-driven business model, but also illustrates our commitment to helping millions of everyday consumers gain access to simple and affordable financial products,” Jared Kaplan, CFO of OppFi, said. “We see a great opportunity for OppFi to be the financial champion for the nearly 60 million everyday consumers as we continue to innovate our array of products, technology and capabilities in the years ahead.”
Atalaya Capital Management is a privately-held, SEC-registered alternative investment advisory firm. Atalaya primarily focuses on making private credit and special opportunities investments in three principal asset classes – specialty finance, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City and has approximately $6 billion in assets under management.
“Atalaya believes that more equal access to responsible credit is a fundamental need in our economy and an important part of financial inclusion. We are excited to expand our relationship with OppFi in their mission to help everyday consumers build a better financial path,” David Aidi, a partner at Atalaya Capital Management, said.