Upstart

Upstart Holdings, Inc. is a leading artificial intelligence (AI) lending marketplace that partners with banks and credit unions to expand access to affordable credit. Founded in 2012, the company leverages its proprietary AI models and cloud applications to provide superior credit products. Upstart's platform aims to move beyond traditional FICO scores by incorporating non-traditional variables such as education and employment to assess creditworthiness more accurately. This innovative approach allows lenders to approve more borrowers at lower rates across various demographics, including races, ages, and genders, while simultaneously delivering an exceptional, digital-first lending experience that customers demand. More than 80% of borrowers are approved instantly, often with no documentation required to upload.

The company's platform includes a range of loan products, such as personal loans, automotive retail and refinance loans, home equity lines of credit (HELOCs), and small-dollar 'relief' loans. Upstart's technology automates various aspects of the lending process, including identity verification, fraud detection, and income and employment verification, resulting in an efficient and user-friendly experience for both borrowers and lending partners. Over 92% of loans facilitated through the Upstart platform are fully automated, requiring no human intervention from Upstart. The company is committed to fair lending practices and has developed a robust fairness testing framework to evaluate its models for bias. Upstart also provides tools like the Upstart Macro Index (UMI) to help its lending partners understand and account for the impact of macroeconomic conditions on credit performance. Headquartered in San Mateo, California, Upstart operates as a digital-first company with most employees working remotely across the United States, though it also maintains physical offices in Columbus, Ohio, and Austin, Texas.