In this episode of Yet Another Value Podcast, host Andrew Walker welcomes back Brian Finn of Findell Capital for his fourth appearance. Brian, owning approximately 10% of Oportun Financial (OPRT), discusses his ongoing proxy battle to reform the company’s board. He explains how Oportun’s shift from a focused lender to an unfocused “fintech empire” led to operational bloat and shareholder destruction. The discussion probes governance failures, board entrenchment, and the recent removal of a high-performing director. Brian also outlines the investment thesis for Opportune, emphasizing its underserved customer base, strong unit economics, and potential for a major turnaround under experienced leadership. _____________________________________________________

[00:00:00] Podcast and guest introduction

[00:00:17] Brian's stake in Opportune

[00:02:03] Overview of Opportune Financial

[00:03:26] Critique of management decisions

[00:04:11] Public campaign and board change

[00:05:32] Legacy board's poor performance

[00:06:15] Cost issues and board pushback

[00:09:42] Operations improved by new directors

[00:10:36] Scott Parker removed from board

[00:12:02] Proxy fight motivations detailed

[00:14:52] Management oversight challenges

[00:16:11] Rebuttal to board's defense

[00:18:01] Governance structure and concerns

[00:21:34] Why Opportune is worth investing

[00:23:25] Opportune unit economics breakdown

[00:27:25] Rate cap policy criticism

[00:30:12] Securitization and interest costs

[00:34:17] October financing explained

[00:38:25] Strategic oversight recommendations

[00:41:01] Nominee Warren's qualifications discussed

Links:

Yet Another Value Blog: https://www.yetanothervalueblog.com

See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer

Chuck and Chris talk about The Mental Game in Hand Surgery