Member Exclusive

Inside Upstart’s IPO filing

  • In the wake of Ant's massive IPO being scuttled, digital lending platform Upstart has filed to go public.
  • Its IPO documents show a company that's growing, profitable, and expanding credit to more people.
close

Email a Friend

Inside Upstart’s IPO filing

In the wake of the failed Ant IPO, another fintech has thrown its hat into the IPO ring. Digital consumer lending platform Upstart has filed with the SEC to go public. The company has raised $144 million to date from investors like Khosla and NEA. The company was last valued at $750 million during its $50 million Series D in 2019, according to Pitchbook. The company was founded by three ex-Google employees with the intention to bring AI tools to the lending process. Upstart models incorporate more than 1,600 variables and have been trained by more than 9 million repayment events. The company uses increasingly sophisticated machine learning to interpret these almost 15 billion cells of data to enable a more predictive model. upstart-flywheel

Inside the Upstart IPO

In 2019, the Consumer Financial Protection Bureau reported that a study by Upstart of its data using a methodology specified by the CFPB showed that its AI model approves 27% more borrowers than a high-quality traditional model, with a 16% lower average APR for approved loans.  


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo Already an Outlier member? Sign in to your account

0 comments on “Inside Upstart’s IPO filing”

Member Exclusive

First-ever bitcoin ETF BITO launches

  • ProShares' bitcoin ETF does not hold bitcoin directly, but instead invests in the cryptocurrency's futures.
  • The ETF is intended to give exposure to investors who do not want to go through the hassle of buying bitcoin directly.
Subboh Jaffery | October 22, 2021
Member Exclusive

With Extend partnership, Amex wants SMBs to create more virtual cards

  • American Express has teamed up with Extend to launch a virtual card solution for its small business customers.
  • Virtual cards provide security and flexibility for SMBs and can help them improve cash flow.
Ismail Umar | October 12, 2021
Member Exclusive

Buy now, regret later? The tricky relationship between BNPL and credit ratings

  • As BNPL use has surged through the pandemic, consumers’ credit scores have taken a significant hit.
  • Research shows more than a third of BNPL users have fallen behind on their payments and hurt their credit score.
Ismail Umar | October 05, 2021
Member Exclusive

The strange connection between horoscopes and financial advice

  • A person’s horoscope may not determine their future wealth, but a propensity to read their horoscopes might.
  • A survey by N26 found that quite a few US adults count on their horoscopes for financial guidance here and there.
Rivka Abramson | September 28, 2021
Member Exclusive

‘There’s a two-sided integration going on between fiat and crypto’: How banks are gearing up to move into digital currencies

  • Many banks are starting to incorporate digital assets into their services.
  • Further adoption will depend on how federal agencies perceive and regulate the large-scale use of cryptocurrencies.
Ismail Umar | September 24, 2021
More Articles