OppZo Raises $260M in Funding to Channel Capital to Struggling Communities

0

Funding supported by Arcadia Funds

MIAMI, June 30, 2022 /PRNewswire/ — OpZoInc., a mission-driven fintech company focused on access to capital for small and medium-sized businesses, announces over $260 million in debt and equity financing. The equity portion of the financing, with a value $5 million, was led by Arcadia Funds, LLC. The debt portion of the financing, worth $255 millionwas led by Arcadia Funds.

By leveraging OppZo’s proprietary AI-powered origination and service platform, SMBs focused on government contracts can finally access working capital in a cost-effective and operationally efficient way. OppZo helps revitalize communities in distress through United States by offering a new asset class with a transformative impact to institutional investors. OppZo’s platform offers institutional investors the opportunity to earn an attractive risk-adjusted return that has a positive and lasting social and economic impact on funded communities.

“We built OppZo with one mission in mind: to help build thriving communities,” said Warren Roseau, co-founder and CEO, OppZo. “Every business owner needs access to capital on fair and affordable terms. We understand first-hand the impacts of funding disparity and provide the optimal solution to the market.”

“Our top priority is supporting the communities we serve and seeing them thrive,” said Randy Garrett, co-founder and president, OppZo. “We are building an ecosystem that attracts both public and private capital to businesses in these struggling communities, and we do this by focusing on building relationships and understanding first.”

Arcadia Funds funding will allow OppZo to continue to connect small businesses to public and private sources of capital, so they can grow their business, creating jobs.

“OppZo solves the conundrum the financial services industry has long faced: how to seek impact without sacrificing a sustainable business model?” said Andrew Hallowell, managing director at Arcadia Funds, LLC. “Arcadia Funds is proud to welcome OppZo to its portfolio and help achieve its mission of providing access to capital while helping to build a new era of wealth generation for small businesses and struggling communities.”

For more information about OppZo, visit https://www.oppzo.com.

About Opzo

OppZo is a fintech company that provides affordable asset-based working capital loans to small and medium-sized enterprises (SMEs) in Opportunity Zones, which are economically distressed regions of the United States in which investors can benefit from a tax advantage when they invest. OppZo finances SMEs through its investors and balance sheet partners, which offers a new transformative impact asset class to provide investors with a risk-adjusted return that has a positive and lasting social and economic impact on businesses. funded communities.

About Arcadia Funds, LLC

Arcadia Funds, LLC is a registered investment manager focused on identifying, partnering and providing balance sheet capital to fintech and specialty finance originators. Since its creation in 2012, Arcadia– the advised entities have purchased more than $5.5 billion unsecured consumer loans, secured and unsecured small business loans, and secured specialty auto loans. For more information on Arcadia Funds, please visit arcadiafunds.com.

SOURCE OppZo, Inc.

Share.

About Author

Comments are closed.