Oportun (OPRT) Faces Proxy Fight as Findell Capital Pushes Board Refresh, Nominates Warren Wilcox to Drive Oversight and Value

Findell Capital Partners, Oportun’s largest shareholder, contends that years of poor governance, unchecked costs, and ill-conceived acquisitions—most notably the failed Digit deal—have severely damaged the company. Despite Oportun’s mission of serving underserved communities, management under CEO Raul Vazquez pursued a costly pivot to a fintech platform, leading to bloated expenses, heavy losses, and share underperformance versus peers. Findell argues that while its past board interventions forced some cost discipline and briefly lifted the stock, entrenched legacy directors continue to resist meaningful reform, even removing lending expert Scott Parker from the board. To unlock value, Findell urges shareholders to oppose Vazquez and elect Warren Wilcox, a veteran in consumer and subprime lending, whose oversight could drive operating expenses toward a 12% ratio, eliminate the self-imposed 36% rate cap, and instill better governance. With these changes, Findell projects Oportun could generate over 8% ROA and achieve a valuation above $20 per share, restoring long-term value for investors.