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WebBank Closes $150MM Facility Secured by Credit Card Receivables for Oportun

December 21, 2021, 08:04 AM
Filed Under: Fintech
Related: Fintech, WebBank

Oportun, an A.I.-driven fintech 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 says the new facility will be used to meet the continuing demand and growth of the credit card program.

Oportun announced in August of this year that the unsecured credit card is available nationwide, and that it expects credit cards to account for $50 million in receivables by year end.


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