OppFi Acquires 35% Equity Interest In Bitty; Option To Acquire Additional 30% Interest Over Time
Portfolio Pulse from Benzinga Newsdesk
OppFi has acquired a 35% equity interest in Bitty, with an option to acquire an additional 30% over time. Bitty, led by Craig Hecker, is a profitable platform providing credit to underserved small businesses. The transaction is expected to be immediately accretive to OppFi's earnings.
August 01, 2024 | 1:19 pm
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OppFi has acquired a 35% equity interest in Bitty, with an option to acquire an additional 30% over time. The transaction is expected to be immediately accretive to OppFi's earnings.
The acquisition of a profitable and growing platform like Bitty is expected to enhance OppFi's earnings immediately. This strategic move aligns with OppFi's goal to expand credit access and could positively impact its stock price in the short term.
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