Upstart Holdings, Inc. (UPST) is a leading artificial intelligence (AI) lending marketplace that connects consumers with more than 100 banks and credit unions. The company seeks to transform the traditional FICO-based lending system by using proprietary machine learning models to assess credit risk more accurately. Its platform automates over 91% of loans, offering personal loans, automotive financing, and home equity lines of credit (HELOCs). By leveraging thousands of non-traditional variables, Upstart provides higher approval rates and lower interest rates for borrowers while reducing default risks for its lending partners.
Founded in 2012 by former Google (GOOG) (GOOGL) executives, the company is based in San Mateo, California.
