Oportun appoints two new independents

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SAN CARLOS, Calif., September 01, 2021 (GLOBE NEWSWIRE) – Oportun Financial Corporation (OPRT, Financial), a financial services company and digital platform that gives hardworking people access to responsible and affordable lending, today announced the addition of two new independent members to its diverse board of directors.

Effective September 1, 2021, the appointments increase the Oportun board of directors from nine to eleven members with the additions of Roy Banks and Rick Welts.

Roy Banks is the CEO of Weave Communications, Inc, an all-in-one communication and customer engagement platform for small businesses. With over 20 years of experience in high-tech software development, e-commerce, internet marketing and payment processing, Mr. Banks has also served as Managing Partner at Tritium Partners; Chairman of the LoadPay business unit and member of the Board of Directors of Truckstop.com; CEO of Network Merchants; CEO of accelerated payment technology; and President of Authorize.Net. A five-year US Navy veteran, Mr. Banks holds a bachelor’s degree in business administration from Utah Valley University.

Rick Welts has over 45 years of experience in the NBA, primarily as a league and team executive, most recently as President and COO of the Golden State Warriors. In recognition of his outsized contributions to making the NBA a global brand, Mr. Welts was inducted into the Basketball Hall of Fame. Mr. Welts has also been honored with several awards recognizing his significant contributions to the promotion of diversity, inclusion and equality in sport and society, including the ADL Torch of Liberty Award and the Davidson / Valentini of GLAAD. Mr. Welts currently serves on the NBA Team Advisory Board and the Global Inclusion Council and is a board member of the Bay Area Council, the Warriors Community Foundation and GoPro Inc. Mr. Welts is a holder of a bachelor’s degree from the University of Washington.

“Our committee unanimously recommended Roy and Rick, after extensive research, to the Oportun board of directors. Based on their diverse skills and experiences, we are confident that they will be exceptional independent directors, making the interests of our shareholders and stakeholders a priority ”, said Aida Alvarez, Chair of the Nomination, Governance and Management Committee. social responsibility of Opportunity.

“Roy and Rick bring a wealth of operating and management experience and I look forward to adding their perspectives, as well as those of Ginny Lee and Sandy Smith, to our diverse boardroom, ”said Raul Vazquez, CEO of Oportun. “Their careers demonstrate a deep understanding of clients, a creative vision and rigorous execution capabilities, as well as a strong commitment to inclusion and fairness that will serve our business well as we continue to grow our business. financially inclusive mission. “

With these additions, Opportunity’s board of directors now includes eight of the eleven members who identify themselves as members of an under-represented group.

About Opportunity
Oportun (OPRT) is a financial services company that leverages its digital platform to deliver responsible consumer credit to hardworking people. Using AI-powered models that are built on 15 years of proprietary customer information and billions of unique data points, Oportun has granted over 4 million loans and over $ 10 billion in affordable credit, providing its customers alternatives to payday loans and auto titles. In recognition of its responsibly designed products that help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.

Investor contact
Nils Erdmann
650-810-9074
[email protected]

Media contact
Georges gonzalez
650-769-0441
[email protected]

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