2020 IPO
Upstart Stock
Lending platform that leverages machine learning
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About Upstart Stock
Founded by ex-Googlers, Upstart is the first lending platform to leverage artificial intelligence and machine learning to price credit and automate the borrowing process. The company's proprietary underwriting model identifies high-quality borrowers despite limited credit and employment history by using variables including schools attended, area of study, and work experience. Upstart offers 3-year and 5-year fixed-rate interest loans, which are primarily used to pay off credit cards, consolidate debt, make large purchases, or invest in vocational education. In addition to its direct-to-consumer lending platform, Upstart provides technology to banks, credit unions and other partners via a “Software-as-a-Service” offering called Powered by Upstart.
Investors
New Enterprise Associates
Robinhood, Databricks, Jet, TAE Technologies, Scopely, Bloom Energy, Opendoor, Radiology Partners, DataRobot, Tempus
First Round Capital
Flexport, Bowery Farming, AppNexus, Goat Group, Blue Apron, SingleStore, DoubleVerify, Clover Health, Fab, Roblox
Khosla Ventures
Instacart, Stripe, DoorDash, Impossible Foods, Palantir Technologies, Commonwealth Fusion, View, Zenefits, Eat Just, Opendoor
The Progressive Corporation
First National Bank Of Omaha
Funding History
April 2012 | $1.7M |
---|---|
December 2012 | $5.9M |
November 2014 | $16.9M |
June 2015 | $35.0M |
November 2016 | $55.6M |
October 2018 | $100.0M |
Management
Co-Founder & Chief Executive Officer
Dave Girouard
Co-Founder & Product
Paul Gu
Co-Founder & Head of Operations
Anna M. Counselman
Press
TechCrunch - Nov, 5 2020
Inside fintech startup Upstart’s IPO filingForbes - Mar, 19 2020
Coronavirus Spread Puts Fintech Lenders At RiskTechCrunch - Sep, 30 2019
Upstart banking company Dave is now worth $1 billion, as Norwest puts in $50 millionendacademy - Dec, 10 2018
Upstart Riding Automation and Bank Partnerships to ProfitabilityWall Streets Journal - Jun, 25 2018
Upstarts Crash Wall Street’s $7 Billion Capital-Markets Party