Work Here?
About Upstart
Industries
Fintech
AI & Machine Learning
Financial Services
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Mateo, California
Founded
2012
Overview
Company Historically Provides H1B Sponsorship
Upstart connects consumers with banks and credit unions through its AI-driven lending marketplace. The platform uses advanced AI models to assess borrowers' creditworthiness, allowing lenders to approve more loans at lower rates without bias based on race, age, or gender. Borrowers benefit from a digital-first experience, with over 80% receiving instant approval without needing to provide documentation. Upstart offers various financial products, including personal loans, automotive loans, home equity lines of credit, and small-dollar relief loans. What sets Upstart apart from its competitors is its focus on using AI to enhance the lending process, making it faster and more accessible. The company's goal is to improve access to credit for all consumers while ensuring a fair lending process.
Simplify's Take
What believers are saying
- Recent partnerships with credit unions show growing trust in Upstart's AI lending.
- Blue Owl Capital's $2 billion loan acquisition indicates confidence in Upstart's portfolio.
- Convertible notes issuance provides capital for expansion and debt repayment.
What critics are saying
- Rising interest rates may reduce demand for Upstart's loans.
- Regulatory scrutiny on AI models could increase compliance costs.
- Economic downturns could lead to higher default rates, affecting profitability.
What makes Upstart unique
- Upstart uses AI to approve over 80% of borrowers instantly without documentation.
- The platform considers non-traditional variables like education and work experience for credit decisions.
- Upstart offers diverse financial products, including personal, auto, and home equity loans.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$750.7M
Above
Industry Average
Funded Over
7 Rounds
First Round Capital
Founders Fund
Kleiner Perkins
New Enterprise AssociatesBenefits
Health Insurance
401(k) Company Match
Employee Stock Purchase Plan
Life Insurance
Paid Vacation
Parental Leave
Flexible Work Hours
Wellness Program
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↓ -1%Holyoke Credit Union selects Upstart for personal lending.
Sandia Area Federal Credit Union selects Upstart for personal lending.
Advia Credit Union, a major credit union with $3 billion in assets and nearly 200,000 members across Michigan, Wisconsin, and Illinois, has partnered with Upstart (NASDAQ: UPST) to expand its personal lending services.
DR Bank chooses Upstart's small-dollar loan product to expand access to credit.
Upstart Holdings (NASDAQ: UPST) has announced the pricing of a $425 million offering of 1.00% Convertible Senior Notes due 2030 in a private sale to qualified institutional buyers. The notes, with an initial conversion rate of 10.8702 shares per $1,000 principal amount (approx. $91.99 per share), will mature on November 15, 2030. Upstart expects net proceeds of about $414.8 million, intended for general corporate purposes, including potential debt repayment. An additional $75 million option was granted to initial purchasers.
Upstart is Hiring for 76 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Upstart
Industries
Fintech
AI & Machine Learning
Financial Services
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
San Mateo, California
Founded
2012
Upstart is Hiring for 76 Jobs on Simplify!
Find jobs on Simplify and start your career today