Oportun, an artificial intelligence-driven financial technology company, closed a $150 million credit facility secured by credit card receivables arising under the company’s Oportun Visa credit card issued by WebBank.
WebBank is the lender under the new facility, which carries a two-year revolving term and replaces Oportun’s existing retention facility. Oportun will use the proceeds from the facility to meet demand and growth of its credit card program.
