Venture Capital: OppZo, Which Funds Small Businesses Having Government Contracts, Raises $260M

July 1, 2022 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2022/07/woman-g9c1c89a51_640.jpg

The funding comprised $5 million of equity and $255 million of debt.

Fintech OppZo brings together investors and small businesses that need working capital loans for their government-facing businesses. Typically located in economically stressed areas of the country, these businesses represent an opportunity for investors to also earn a tax benefit by investing in such Opportunity Zones. OppZo raised $260 million in a round led by Arcadia Funds. (CISION PR Newswire)

New asset class

Samll businesses with government contracts can raise working capital loans through OppZo’s AI-enabled origination and servicing platform.

“OppZo is assisting in the revitalization of distressed communities across the United States by offering a new transformative impact asset class to institutional investors,” OppZo said in a statement. “OppZo’s platform provides institutional investors with the opportunity to gain an attractive risk-adjusted return that has a positive and sustainable social and economic impact on the funded communities.”

Oppzo will use the new funds to further expand its lending sources for small businesses.

“Every business owner needs access to capital on terms that are fair and affordable,” said Warren Reed, Co-Founder & CEO. “We understand first hand the impacts of disparity in funding, and we’re delivering the optimal solution to the market.”

Randy Garrett, Co-Founder & President, OppZo, said: “We are building an ecosystem that drives both public and private capital to businesses in these distressed communities, and we do so by focusing on building relationships and understanding first.”

Related Story: Brex Dumps Thousands Of Small Business Customers In Rejig

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/08/logo-ripple.jpg
Digital Assets: Ripple Labs Eyeing Pieces Of Celsius In Bankruptcy Wreckage
August 10, 2022     Digital Assets, News

Ripple Labs, the blockchain payments company that created the XRP cryptocurrency, is interested in purchasing assets of Celsius Network, the crypto lender that was forced into bankruptcy amidst the meltdown…

https://dailyalts.com/wp-content/uploads/2022/08/Nuri.png
FinTech: German Bank Nuri Files For Insolvency Amidst Macro Environment And Crypto Bear Market
August 10, 2022     Digital Assets, FinTech, News

Nuri, a digital banking platform and app, offered users crypto transactions as well as normal banking activities including a debit card. The firm announced it had filed for insolvency on…

https://dailyalts.com/wp-content/uploads/2022/08/TX-SCARA_Press_1-1-1-1030x644-1.jpg
Artificial Intelligence: AI Robot TX SCARA To Debut In 300 FamilyMart Stores In Japan
August 10, 2022     Artificial Intelligence, Latest News, News

Telexistence Inc., the Japanese robotics company, announced the launch of its TX SCARA restocking robots in 300 FamilyMart convenience stores in Japan later this month as part of its AI-based…

https://dailyalts.com/wp-content/uploads/2022/08/Coinbase-Mobile-–-Splash.png
Alternative Investments/Digital: GraniteShares Launches The First Coinbase Leveraged ETF
August 10, 2022     Alternative Investments, News

US ETF issuer GraniteShares, which first launched leveraged ETFs on single stocks in the UK in 2019, and now offers 106 such products across Europe, has listed a suite of…