Oportun Expands Executive Team with Key New Hires

Rhea-AI Summary

Oportun (Nasdaq: OPRT), a mission-driven fintech and digital banking platform, announced the appointment of Irfan Ganchi as Chief Product Officer and Deepak Rao as Chief Technology Officer, effective March 15, 2023. Ganchi previously worked at Meta, focusing on B2C services and fintech platforms, and has experience at Uber and Amazon. Rao comes from SoFi, with nearly 20 years at Microsoft in various roles. CEO Raul Vazquez emphasized that these appointments are crucial for expanding Oportun's digital banking services, aiming to empower members in their financial journeys. Oportun has provided over $15.5 billion in affordable credit since its inception.

Positive

• New leadership positions filled by executives with extensive industry experience.
• Irfan Ganchi and Deepak Rao bring strong backgrounds from Meta and SoFi, respectively.
• Continued commitment to empowering 1.9 million members with a comprehensive digital banking platform.

Negative

• None.

Chief Product Officer, Irfan Ganchi, joins from Meta
Chief Technology Officer, Deepak Rao, joins from SoFi

SAN CARLOS, Calif., March 15, 2023 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven fintech and digital banking platform, today announced that it is adding two key members to its executive team, Irfan Ganchi, who joins as the company’s Chief Product Officer, and Deepak Rao, Oportun’s new Chief Technology Officer. Both new additions will report directly to Oportun’s CEO, Raul Vazquez.

Irfan Ganchi comes to Oportun from Meta, where Ganchi was responsible for product management of B2C services marketplaces, Ecosystem Growth & AdTech products for Reality Labs, and most recently Fintech Platforms . Prior to Meta, Ganchi was a senior product leader at Uber and Amazon, among others. Ganchi has a Masters degree in Management Science and Engineering from MIT and a Bachelors Degree in Engineering from Osmania University.

Deepak Rao joins Oportun from SoFi, where he was VP of Engineering. Prior to SoFi, Rao spent nearly two decades at Microsoft in a variety of technology and executive roles. Rao has a Masters degree in Computer Engineering and a Bachelors degree in Computer Engineering from Case Western Reserve University.

“Choosing the right leaders for our product and technology organizations is essential as we continue expanding our mission and providing our members with a comprehensive digital banking platform to serve their daily borrowing, savings, budgeting, and spending needs,” said Raul Vazquez. “In Deepak and Irfan, we have found highly experienced leaders with great vision and commitment to our mission of empowering all our members to build a better financial future, and we are all eager to start building together.”

About Oportun
Oportun (Nasdaq: OPRT) is a digital banking platform that puts its 1.9 million members' financial goals within reach. With intelligent borrowing, savings, budgeting, and spending capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $15.5 billion in responsible and affordable credit, saved its members more than $2.3 billion in interest and fees, and helped our members save an average of more than $1,800 annually. For more information, visit Oportun.com.

Investor Contact

Dorian Hare
(650) 590-4323
ir@oportun.com

Media Contact
Usher Lieberman
(650) 769-9414
usher.lieberman@oportun.com

FAQ

Who are the new executives announced by Oportun on March 15, 2023?

Oportun announced Irfan Ganchi as Chief Product Officer and Deepak Rao as Chief Technology Officer.

What experience do the new executives at Oportun have?

Irfan Ganchi previously worked at Meta, Uber, and Amazon, while Deepak Rao joined from SoFi and has extensive experience at Microsoft.

What is Oportun's mission according to the recent press release?

Oportun aims to provide a comprehensive digital banking platform to help members with borrowing, savings, budgeting, and spending.

How much credit has Oportun provided since its inception?

Oportun has provided over $15.5 billion in responsible and affordable credit.

How many members does Oportun serve?

Oportun serves approximately 1.9 million members.