Oportun, a financial technology company, closed a new long-term warehouse facility, including $245 million total commitment and a three-year revolving period. Deutsche Bank served as senior lender, and Jefferies served as mezzanine lender. The facility is collateralized by Oportun’s unsecured and secured loan originations.
“This new warehouse facility demonstrates Oportun’s continued ability to both attract new investors as well as build on longstanding investor relationships,” Jonathan Coblentz, chief financial officer of Oportun, said. “With the support of our lenders at Deutsche Bank and Jefferies, this long-term committed financing will help drive Oportun’s responsible growth in the years ahead.”
Orrick, Herrington & Sutcliffe served as legal advisor to the company on the transaction.
