Aura Financial, a certified Community Development Financial Institution (CDFI) and fintech innovator focused on serving underbanked communities, has closed its doors after eight years of operation. Founded in 2012 to provide economic justice and financial tools to minorities, Latinos, and low-income families, the company cited the broader impacts of the pandemic, recent legislation, and challenging economic conditions as contributing factors to its shutdown. While the exact number of layoffs was not specified, the closure resulted in the loss of all positions at the company. Aura had facilitated nearly $700 million in responsible loans to over 350,000 customers, helping many improve their credit scores and avoid predatory lenders. The closure marks the end of its mission to expand financial inclusivity through technology and community-focused lending.
