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OppFi Acquires 35% Equity Interest In Bitty; Option To Acquire Additional 30% Interest Over Time

Author: Benzinga Newsdesk | August 01, 2024 09:19am

Led by proven operator and industry leader Craig Hecker, Bitty is a profitable and growing platform that provides credit access to underserved small businesses
The transaction implies a 6.0x purchase multiple on adjusted net income for the trailing twelve months ending March 31, 2024 and is expected to be immediately accretive to OppFi earnings
OppFi expects to continue evaluating strategic acquisition opportunities in new and existing verticals to further facilitate credit access

Posted In: OPFI