Tagged: upstart

May 13, 2024 @ 7:42 am By Omar Faridi  |  

Upstart has reportedly received a subpoena from the US Securities and Exchange Commission (SEC) pertaining to the Fintech company’s disclosures as they relate to use of its AI algorithms/models and loans. This, according to Upstart’s quarterly filing released this past Tuesday. The California-headquartered alternative lender… Read More

May 9, 2023 @ 5:06 pm By JD Alois  |  

Upstart (NASDAQ:UPST), an online lending marketplace that leverages artificial intelligence (AI) has posted Q1 2023 earnings that have topped analyst expectations driving shares higher in after-hours trading. Dave Girouard, co-founder and CEO of Upstart, issued a statement sharing he was pleased with Q1 performance: “Despite… Read More

August 19, 2022 @ 3:47 pm By Omar Faridi  |  

Alliant Credit Union, a fully digital, top 10 credit union in the U.S. with more than 650,000 members and over $15 billion in assets, announced it has partnered with Upstart (NASDAQ: UPST), an artificial intelligence (AI) lending marketplace, “to offer AI-powered personal loans nationwide.” Charles… Read More

June 8, 2022 @ 2:22 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has “terminated” Upstart’s (NASDAQ:UPST) no-action letter. Upstart is a publicly-traded firm that provides online lending for consumers as well as partnering with banks on offering could based credit services. The CFPB reports that Upstart’s bank partners have originated 1.3… Read More

March 8, 2022 @ 3:08 pm By Tony Zerucha  |  

Sandbox Banking, a BaaS infrastructure company, and Upstart, an artificial intelligence lending platform, today announced a partnership that will enable Upstart to help its bank and credit union partners to more efficiently integrate Upstart loan and borrower data into their core and customer relationship management… Read More

October 16, 2021 @ 11:53 am By Omar Faridi  |  

Tala, the international tech firm creating an accessible financial services platform, announced a $145 million Series E round that has been led by Upstart along with contributions from the Stellar Development Foundation. New investors Kindred Ventures and the J. Safra Group, along with existing investors… Read More

March 23, 2021 @ 11:15 pm By Omar Faridi  |  

Online lending platform UpStart (UPST:NASDAQ) has noted that there are four levels of digital lending. Jeff Keltner, SVP of Business Development at UpStart, writes in a blog post that he has been thinking for some time now about the key trends he’s observing towards the… Read More

August 8, 2019 @ 9:10 am By JD Alois  |  

In 2017, the Consumer Financial Protection Bureau (CFPB) issued its first No-Action Letter (NAL) regarding the “use of unconventional sources of information,” or “alternative data,” to evaluate individual creditworthiness. Earlier in that year, the CFPB had launched a Request for Information pertaining to alternative data…. Read More

April 9, 2019 @ 8:31 am By Samantha Hurst  |  

Online lending platform UpStart announced on Monday it secured a $50 million equity investment from Progressive Investment Company Inc., Healthcare of Ontario Pension Plan, and First National Bank of Omaha. Founded in 2012 by ex-Googlers, Upstart is described as a lending platform that leverages artificial intelligence… Read More

January 9, 2019 @ 6:54 pm By Richard van Hooijdonk  |  

Technology has infiltrated our lives, and the wave of digital disruption has impacted various industries. The finance sector is no exception. Since the industry is becoming more complex, relying on traditional methods is no longer enough. In fact, it can do your business more harm… Read More

September 15, 2017 @ 6:28 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has issued its first no action letter to online letter Upstart. At the time of the request by Upstart, the online lender had facilitated over 80,000 loans totaling over $1 billion ranging from $1,000 to $50,000 with a term of… Read More

September 15, 2017 @ 6:14 pm By Tom Grant  |  

Bank lending regulations have rarely been thought of as dynamic or exciting but last night’s ruling by the Consumer Financial Protection Bureau (CFPB) to allow a lender to begin using alternative data in their underwriting could herald the beginning of a new era in lending… Read More

March 3, 2017 @ 10:52 am By JD Alois  |  

Online lending platform UpStart has raised $32.5 million led by Rakuten, a Japanese conglomerate that has been pushing into Fintech, and a large “US-based Asset manager”. Existing investors Third Point Ventures, Khosla Ventures, and First Round Capital also participated in the funding round. Oskar Mielczarek de… Read More

December 13, 2016 @ 11:07 am By Samantha Hurst  |  

On Tuesday, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016. The company reported that, with more than $1.5 billion in loan requests, its platform has grown to serve over one million customers with its… Read More

October 27, 2016 @ 8:28 am By Erin Hobey  |  

ReliaMax, a fintech-based and complete private student lending solutions provider, announced the launch of borrower acquisition channel partnerships as part of its Connext Private Student Loans by ReliaMax platform. The inaugural partners include LendingTree, SimpleTuition, Upstart and Student Loan Hero. Borrowers may now access ReliaMax’s Connext… Read More

June 29, 2016 @ 4:45 pm By Samantha Hurst  |  

On Wednesday, Upstart announced the launch of its new monthly cash flow dashboard. The portal revealed that this feature offers investors with an up-to-date picture of their cashflow, which includes both interest and charge-offs. The Upstart team shared: “Thank you investors for providing feedback on… Read More

February 20, 2016 @ 5:41 pm By JD Alois  |  

Question: What do the following have in common? Smart Tracker 2 Smart Tracker Swiss White Teeth Last Crime Answer: They are each crowdfunding projects on Indiegogo involving a Mr. Julian Buschor. Another fun fact regarding the above campaigns, none of the promised rewards have delivered for… Read More

October 21, 2015 @ 6:36 pm By Midori Yoshimura  |  

  Former Googlers Dave Girouard and Anna Mongyat joined with Paul Gu (a Thiel Fellow) to launch Upstart in 2012.  Originally envisioned as a more altruistic lending platform that invested in the person and not the loan – somewhat similar to Pave –  the platform… Read More

July 19, 2015 @ 12:27 pm By JD Alois  |  

  UpStart, a three year old marketplace lending platform founded by former Googlers, is a next generation direct lender that wants to leapfrog existing platforms by providing turbocharged data processes to making loans. The first generation marketplace lenders saw opportunity in the bloated and punch… Read More

March 27, 2015 @ 8:25 am By JD Alois  |  

VPC Speciality Lending Investments (LSE:VSL) has published a brief comment stating they have added investments in several direct lenders including OnDeck Capital, Funding Circle (USA), Upstart Network, Borro and Kreditech.  VPC has also provided a balance sheet loan to Applied Data Finance.  The company acquired… Read More