Fintech Lender Oportun to Acquire Online Banking Platform Digit

Oportun Financial Corp., a fintech lender, agreed to buy online banking platform Digit to boost its artificial-intelligence and digital capabilities.

Oportun will pay about $212.9 million in equity and cash, it said Tuesday in a statement. Digit will continue to be led by its founder and chief executive officer, Ethan Bloch, and all of its employees will join Oportun.

The deal will help Oportun expand into online banking three to five years faster than if the company built it on its own, CEO Raul Vazquez said in the statement. Digit, founded in 2013, has about 600,000 paying members and ...