OppFi, a FinTech that enables banks to expand access to credit, announced on Monday (December 20) that the company’s President, Neville Crawley, will succeed Jared Kaplan as CEO effective December 31.
Kaplan will remain on the Board of Directors and will continue to advise the company.
Crawley was CEO of the FinTech platform Kiva from 2017 to 2021, and Todd Schwartz, Executive Chairman of OppFi, called Crawley’s “deep experience and expertise”, in particular his expertise in “serving financially excluded groups”.
Schwartz also said Kaplan has been “an integral part of building a leading FinTech platform that we believe will continue to grow and prosper under Neville’s leadership.”
Kaplan became CEO of OppFi in 2015 and has seen the company grow rapidly and expand its products to try to help those who do not have equal access to minstream options. He also listed the company on the stock exchange in July 2021, through asearmarked acquisition company (SPAC) combination with FG New America Acquisition Corp.
“I am extremely proud of what we have achieved and built to date, and I am delighted that OppFi continues to grow and maximize its potential,” said Kaplan in the announcement. “I believe Neville is extremely qualified to build on the work we have started – expanding credit access for the everyday consumer – and is the best person to lead this next phase of OppFi’s mission.”
Meanwhile, Crawley said he was “energetic and excited to use my experience building and leading high-growth businesses and disruptive financial technologies to continue making OppFi the premier fintech platform for millions of financially underserved consumers.”
PYMNTS wrote about Oppfi’s SPAC combo this summer, stating that the company began trading on the New York Stock Exchange on July 21.
Continue reading: OppFi combined with SPAC; Starts trading on the NYSE
Kaplan said at the time that the company’s goal was to continue “serving consumers excluded from the traditional banking system with fair, transparent products and an exceptional customer experience”.
Kaplan said earlier in the year that OppFi’s product was a credit risk and valuation alternative that would go further and reach more customers.
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