Illinois-based, OppFi, a fintech platform specializing in financial operations recently announced its acquisition of a credit access company Florida-based Bitty Advance.
OppFi acquired 35% of the Bitty Advance including its service and operations. After this acquisition, OppFi has the option to own the majority shares or total ownership if they want over time. However, OppFi or Bitty Advance hasn’t disclosed the deal price.
OppFi Acquired 35% Equity in Bitty Advance
CEO OppFi, Todd Schwartz said after the acquisition OppFi will expand its operations and offer more service to the users.
CEO Bitty, Craig Hecker said this acquisition will benefit both the companies and accelerate growth. Bitty Advance is a credit access company that funds over 29,000 businesses across the US. Bitty Advance offers range between $2,000 to $250,000 depending on the company profile and requirements.
On the other hand, OppFi is a fintech-enabled platform specialized in finance operations. They help community banks to extend credit access in every part of the US.
Moreover, the OppFi platform provides financial inclusion to users who can not access mainstream options for financial help.
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