The latest announcement is out from OppFi (OPFI).
Opportunity Financial subsidiaries OppFi-LLC and Opportunity Financial SMB have acquired a 35% stake in Bitty Holdings, a provider of revenue-based financing solutions, for an aggregate consideration of $15.25 million in cash and equity valued at $2.7 million. The deal, closed on July 31, 2024, includes options for the buyer to further increase their stake up to 100% over the next six years, based on pre-agreed terms. Additionally, a Lock-up Agreement restricts the seller from transferring the newly acquired equity for a specified period.
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