Santander: Digital lenders have unfair regulatory advantage post-pandemic. Lending platform Upstart filed on Nov. 5 for an initial public offering with plans to raise $100 million. According to Silicon Valley Business Journal, it gets 98% of its revenue from its referrals to lending partners. Electric-Bus Maker Proterra's SPAC IPO Date, Valuation, and IPO Plans Electric-Bus maker Proterra is gearing up to go public through a reverse merger with ArcLight Clean Transition Corp. Required fields are marked *. Mezzanine Loan and Security Agreement, dated October 22, 2018, between Silicon Valley Bank, Upstart Holdings, Inc. and Upstart Network, Inc. amended as of June 30, 2020 and October 1, 2020. Upstart confidentially filed an S-1 with the SEC back in March. Below is a brief overview video of an interview of Upstart CEO Dave Girouard: The firm makes money by charging referral fees, platform fees and loan servicing fees. Upstart is funded by 22 investors. Alternatively, post a comment by completing the form below: Your email address will not be published. Upstart Holdings has filed proposed terms for a $252 million U.S. IPO. The number of shares on offer, as well as the price range of the IPO, are yet to be determined. Citing strong demand, Chinese electric vehicle (EV) maker Xpeng Motors prices its upsized IPO of 99.7M American Depositary Shares (ADS) at $15, raising nearly $1.5B.XPEV originally planned to … Also, the U.S. consumer lending market is concentrated. improve your experience and our services. Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO would approximate $1.57 billion. Upstart seeks public investment both to fund its growth initiatives and to cash out some selling shareholders. ET. Lending platform that leverages machine learning. Free cash flow during the twelve months ended September 30, 2020, was negative ($45.5 million). To receive automatic notification of new IPO activity, click the "+ Follow" button. fintechfutures.com/2021/01/sme-cr…, . The current price talk is $33-38. Though this figure is often used as a placeholder to calculate filing fees. Sales and Marketing expenses as a percentage of total revenue have been dropping and its Sales and Marketing efficiency ratio has been stable at 0.7x. 10.11# Amended and Restated Revolving Credit and Security Agreement, dated May 22, 2020, between Upstart Loan Trust and Goldman Sachs Bank USA. Upstart Holdings, the California-based fintech lender led by ex-Google exec, Dave Girouard, has filed for an initial public offering (IPO). Upstart, based in San Mateo, California, closed its first day with a market value of $2.14 billion. First National Bank Of Omaha and The Progressive Corporation are the most recent investors. Latest Stock Picks Investing Basics Premium Services. 00:00 Upstart is now officially a public company. How does an early-stage investor value a startup? The company's proprietary underwriting model identifies borrowers despite limited credit and employment history by using variables including schools attended, area of study, and work experience. by Carlos Eduardo Espinal () One of the most frequently asked questions at any startup event or investor panel, is “how do investors value a startup?”. @NAB signs SME payments deal with @Eedenbull According to a 2020 market research report by First Research, global household debt exceeded $47 trillion in 2020, which was '$12 trillion higher than in the run-up to the 2008 global financial crisis.'. At the top of the target range, the IPO will give Airbnb a fully diluted valuation, which includes securities such as options and restricted stock units, of US$34.8 billion, nearly double the US$18 billion Airbnb was worth in an April private fundraising round. The beginning-up filed on 5 November with the Securities and Alternate Fee (SEC). The cloud-based lending platform uses artificial intelligence (AI) to boost loan approval rates for consumers at lower interest rates. It is as yet unclear whether Upstart still has these figures in mind for the delayed IPO listing. Upstart Holdings Inc (NASDAQ: UPST) on Tuesday priced its initial public offering at $20 per share.What Happened: The California-headquartered company is … SHARE . IPO Investing. The stock’s first trade on the Nasdaq was for $26.00 at 12:44 p.m. Airbnb has set the terms for its much anticipated initial public offering. Mergermarket sources said back in March that the fintech lender was looking to raise up to $200 million at a valuation of around $2 billion. This year, diversifying which institutions these revenues come from has become a priority for Upstart. The IPO of Upstart Holdings (UPST), the Silicon Valley company that claims to be re-inventing personal loans with AI, is long on credit arrangements and securitization, short on any actual artificial intelligence. Strong demand for the company will lead to … The fintech netted a $4.6 million profit in the first nine months of 2020. San Mateo, California-based Upstart was founded to utilize machine learning techniques to maximize the matching of lenders with consumers seeking personal loans. Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus. Technology lies at the heart of the ethical banking revolution Information provided is for educational purposes only, may be in error, incomplete or out of date, and does not constitute financial, legal, or investment advice. The firm obtains prospective borrowers via online marketing through earned and paid search optimization and marketing efforts. The stock opened at $26, hit a high of $30.01 and closed Wednesday at $29.47, up 47.35%. The 44% growth, however, is down from the 72% and 65% growth rates in 2018, and 2019, respectively. "We have a collective opportunity to lift our commu… twitter.com/i/web/status/1…, SME credit fintech Dinie lands dLocal deal one year into Brazil play SHARE. Founded by ex-Googlers, Upstart goes beyond the FICO score to finance people based on signals of their potential, including schools attended, area of study, academic performance, and work history. UPST intends to sell 9 million shares of common stock and selling shareholders hope to sell 3,015,690 shares at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $252.3 million, not including the sale of customary underwriter options. ... Upstart CEO Is Relieved IPO Process Is Over. Starling renews search for non-bank European lender. AFRM will probably end up upsizing the deal to $1B at an $11B valuation. Upstart is registered under the ticker NASDAQ:UPST . Almost … Upstart is a lending platform that leverages artificial intelligence and machine learning to price credit and automates the borrowing process. For what is essentially a financial software firm, a 7.5x multiple on a company growing revenue above 44% and generating positive earnings appears reasonable. The report indicates that 85% of consumer lending revenue is generated by the 50 biggest firms. Subscribe to the Crunchbase Daily. 562%. The company intends to raise as much as $260M in an IPO of its common stock at about $1.9B valuation. Request Access . Updated Dec 16, 2020, 10:42am PST Upstart Holdings priced its IPO at $20 per share Tuesday, on the low end of its initial pricing range of $20 to $22 per share… Excluding effects of … Between 2017 and 2019, Upstart’s revenue has nearly tripled to $164 million, according to the start-up’s financial results. But the fintech hit hurdles in the second quarter of this year when its partners temporarily paused lending due to the pandemic. No existing shareholders have indicated an interest to purchase shares at the IPO price. Contributor. Per the firm’s most recent regulatory filing, the firm plans to use the net proceeds as follows: We intend to use the net proceeds from this offering for general corporate purposes, including working capital, operating expenses, and capital expenditures. Upstart Holdings plans to list on the Nasdaq under the symbol UPST. Our platform aggregates consumer demand for high-quality loans and connects it to our network of Upstart AI-enabled bank partners. Copyright © 2021 Informa PLC. Not quite that 100 percent pop which is when we know a double edged sword. Upstart has a post-money valuation in the range of $500M to $1B as of Apr 8, 2019, according to PrivCo. Management’s presentation of the company roadshow is not available. I left Google in 2012 to found Upstart with Anna and Paul. Companies; Documents; Forms; Alerts; Stock Ticker Lookup. Click here for more information on our. Subscribe to the Crunchbase Daily. Upstart offers personal loans between $1,000 and $50,000. EquityZen is a marketplace for shares of proven pre IPO tech companies. I t's been an exciting time in the IPO … The company plans to list on the Nasdaq with the ticker symbol of UPST. Our proprietary underwriting model identifies high quality borrowers despite limited credit and employment experience. Fintech funding deals globally 4-10 January 2021. Upstart Holdings, Inc. Form S-1/A (Filer) Published: 2020-12-07 11:37:28 Submitted: 2020-12-07 Filing Agent: DONNELLEY FINANCIAL … EMAIL. By continuing to use our website, you agree to the use of such cookies. Featuring Mission Lane, Narmi, Finja, CarPay, and ZipLoan. Sales and Marketing expenses as a percentage of total revenue have been dropping as revenues have increased. ET First Published: Dec. 16, 2020 at 12:53 p.m. Common stock, par value $0.0001 per share : $100,000,000 : $10,910 (1) Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(o) of the Securities Act of 1933, as amended. The company plans to list on the Nasdaq with the ticker symbol of UPST. 2 Based on an Upstart retrospective study completed in December 2019, which defined access to prime credit as individuals with credit reports with VantageScores of 720 or above. Upstart confidentially filed an S-1 with the SEC back in March. 10.12# Upstart Tries To Clear IPO Base January 5, 2021, 7:20 AM Upstart a new AI-based consumer lending fintech IPO, briefly cleared an IPO base with official 51.50 buy point. UK MP says BNPL firms are “next Wonga waiting to happen”. First National Bank Of Omaha. The San Carlos, California-based company was founded in 2012 by Dave Girouard, who previously managed Google‘s enterprise business. Your email address will not be published. Fast forward 8 years, and today marks an important milestone for Upstart. The variety of shares on supply, in addition to the worth vary of the IPO, are but to be decided. The U.S. consumer lending market generates annual revenue in excess of $36 billion between over 14,000 businesses, from small to large lenders and facilitators. Lending platform Upstart filed on Nov. 5 for an initial public offering with plans to raise $100 million. View More Companies. Upstart a new AI-based consumer lending fintech IPO, briefly cleared an IPO base with official 51.50 buy point. Just 22% of the nation didn’t carry personal debt into 2021. Airbnb's market capitalisation at US$50 per share will total roughly US$30 billion. A successful IPO hinges on consumer demand for the company's shares. ... Aventicum's Samhouri Expects More Dubai Property Value Declines. The San Carlos, California-based company was founded in 2012 by Dave Girouard, who previously managed Google‘s enterprise business. But the market volatility which ensued this month following the rise in COVID-19 cases threw the IPO data up in the air. Includes the aggregate offering price of additional shares that the underwriters have the option to purchase, if any. The market opportunity for consumer loan lead generation using advanced technologies appears to be robust, as the consumer loan market in the U.S. is extremely large and banks are looking for any edge they can get in reducing their customer acquisition costs. Upstart has received at least $162 million from investors including Third Point Ventures, Stone Ridge Trust, Khosla Ventures, Rakuten (RKUNY), and First Round Capital. Listed underwriters of the IPO are Goldman Sachs, BofA Securities, Citigroup, Jefferies, and Barclays. The fintech’s billion-dollar booty is the latest in a small group of IPOs that raised $1 billion in the past year. Return. The original plan was to start trading at the end of May, according to the sources. Upstart has a post-money valuation in the range of $500M to $1B as of Apr 8, 2019, according to PrivCo. Goldman Sachs, BofA Securities, Citi, Jefferies and Barclays acted as lead managers on … This website uses cookies, including third party ones, UpStart priced their IPO at $20, opened at $26, and after a delightful little drop has soared to $57. Past performance is no guarantee of future results.). According to PitchBook Data, it was valued at around $750 million following its last round in April 2019. Fintech funding deals globally 28 Dec 2020-3 Jan 2021. Cross River Bank of New Jersey accounted for 81% of Upstart’s revenue last year. Those going into the IPO include Third Point Ventures (19.5%), Stone Ridge Trust (9.5%), Khosla Ventures (8.4%), Rakuten (5.3%) and First Round Capital (5.2%). @AionBank signs payments processing deal with @Form3Tech To date, the fintech has raised some $165 million in funding. Why IPO Intelligence; The start-up filed on 5 November with the Securities and Exchange Commission (SEC). Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG. Duration: 06:09 16/12/2020. Affirm managed to halve its losses by June 2020. Upstart is registered under the ticker NASDAQ:UPST . Prior to Google, Girouard also spent two years as a product manager for Apple. In 2020 so far – across the last nine months – the start-up has generated a $146.7 million revenue. Summary Upstart Holdings has filed proposed terms for a $252 million U.S. IPO. The San Francisco-based lodging upstart could raise as much as $2 ... Airbnb Seeks Valuation of Up to $35 Billion in IPO. But that’s down to about 65% in the first nine months of this year. - Renaissance Capital. Form S-1/A Upstart Holdings, Inc. [Amend] General form for registration of securities under the Securities Act of 1933. He oversaw the Big Tech’s $1 billion cloud apps business worldwide. 16 December 2020, 1:35 pm. Founded. Shares are up about30 percent out of the gate. Upstart has raised a total of $144.1M in funding over 6 rounds from 22 investors, such as Founders Fund, Khosla Ventures, Kleiner Perkins, Google Ventures, New Enterprise Associates and Marc Benioff (founder and CEO of Salesforce). The company raised $180 million from its IPO. Upstart has raised a total of $144.1M in funding over 6 rounds from 22 investors, such as Founders Fund, Khosla Ventures, Kleiner Perkins, Google Ventures, New Enterprise Associates and Marc Benioff (founder and CEO of Salesforce). The Components of IPO Valuation . Upstart (UPST) has become a publicly traded company. Given a reasonable IPO valuation, current and future growth prospects and the firm’s Covid-19 pandemic resilience, my opinion on the IPO is a BUY at up to $21.00 per share. The company has partnered extensively with consumer loan banks and institutional investors in loans. BENGALURU (Jan 5): Affirm Holdings Inc, founded by PayPal Holdings Inc co-founder Max Levchin, is aiming for a valuation of over US$9 billion in its initial public offering, the lending startup said in a filing on Tuesday. SHARE. Upstart provides its consumer loan underwriting and matching service via either its own website or through a white label product on the bank partner website. 16 December 2020, 1:35 pm. Upstart Holdings, which operates an online consumer lending platform connecting banks and individuals, raised $240 million by offering 12 million shares (75% primary) at … (Corrects spelling of guest name) Latest stories. TWEET. Upstart uses more than 1,600 variables to assess the likelihood that someone will default on a loan, and now they’re planning to have an initial public offering (IPO). Additionally, we may use a portion of the net proceeds to acquire or invest in businesses, products, services, or technologies. As to valuation, compared to JD.com, WISH is seeking a significantly higher valuation at IPO for its revenue multiples, ... IPO Update: Upstart Holdings Closes In On $252 Million IPO (NASDAQ:UPST) Save my name, email, and website in this browser for the next time I comment. Read next: Chinese lender Lufax set for US IPO despite Trump’s delisting plans. A letter from our Co-Founder & CEO, Dave Girouard. The fintech company uses artificial intelligence and machine-learning tools to make lending decisions and predict creditworthiness. Expected IPO Pricing Date: December 15, 2020. The company plans to listed on the Nasdaq with the ticker symbol of UPST on December 15, 2020. Shares are priced at $25.82, and the average price target of $59.19 suggests an upside potential of 132% for the next 12 months. While Upstart has filed for the IPO, it hasn’t disclosed the IPO date, price, or the number of shares on offer yet. SEC.report. Upstart’s head, Dave Girouard, previously served as Google Enterprise’s president. Major competitive industry participants by category include: Upstart’s recent financial results can be summarized as follows: Below are relevant financial results derived from the firm’s registration statement: As of September 30, 2020, Upstart had $53.2 million in cash and $194.6 million in total liabilities. Search / Go. According to the S-1, Upstart saw its revenue nearly triple to $164.2 million between 2017 and 2019. With 477,558,320 class A and 108,859,160 Class B shares outstanding, Wish’s valuation could hit $14.06 billion at $24 a share. How to Buy Stocks in the Upcoming Upstart IPO Lending platform Upstart filed on November 5, 2020 for an initial public offering with plans to raise $100 million. Common stock, par value $0.0001 per share : $100,000,000 : $10,910 (1) ... the underwriters have the option to purchase up to an additional shares from Upstart at the initial public offering price less the underwriting discount. fintechfutures.com/2021/01/swbc-p…, . Upstart CEO Is Relieved IPO Process Is Over. The biggest determinant of your startup’s value are the market forces of the industry & sector in which it plays, which include the balance (or imbalance) between demand and supply of money, the recency and size of recent exits, the willingness for an investor to pay a premium to get into a deal, and the level of desperation of the entrepreneur looking for money. Dec.16 ... repurchased a total of 38,800,522 B shares at an average share price of DKK 425.00 per B share equal to a transaction value of DKK 16,490,383,717. DPR provides its mortgages and savings platform on the cloud for the society. This is a massive market with excellent long-term economics for investors. Summary. The company plans to listed on the Nasdaq with the ticker symbol of UPST on December 15, 2020. 117%. Upstart was founded in 2012 by Dave Girouard, formerly of Google. IPO Report Upstart stock soars after IPO Last Updated: Dec. 16, 2020 at 2:55 p.m. @JoeBiden reshuffles US financial regulators to reign in corporates The Cambridge Building Society migrates to Azure cloud with DPR. Upstart (UPST Quick Quote UPST - Free Report) CEO David Girouard said his lending algorithm is 5 times more effective than current systems at accurately depicting a person’s ability to repay a loan. The firm provides lead generation and white label software that matches lenders with consumers seeking personal loans. So much for a December slowdown — this morning, Airbnb and C3.ai raised their IPO price ranges and we got early pricing information from Upstart … to allow for analysis of how people use our website in order to Click the link below to VOTE on your interest in this IPO and see results: A positive swing to slight operating profit and operating margin, A negative swing to significant cash used in operations. It is likely this figure has increased markedly as a result of the Covid-19 pandemic. Upstart, a San Carlos, California-based online lender, has confidentially filed an S-1 with the SEC, but current market volatility has put the IPO date up in the air, said two sources familiar with the situation. Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 73.8% since their IPO. Consumers on our platform benefit from higher approval rates, lower interest rates, and a highly automated, efficient, all-digital experience. Upstart CEO Is Relieved IPO Process Is Over. Despite this, the fintech has managed to grow its overall revenue by at least 44% since the same time last year. Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 16.58%. Their stock opened with $20.00 in its Dec 16, 2020 IPO. The Upstart IPO The Upstart we see described in the S-1 filing document is a very different one from three years ago when 25% of the $700 million in loans they originated were automated. Jan 19, 2021 6:43AM EST. What exactly is speeding up the business, though? EquityZen is a marketplace for shares of proven pre IPO tech companies. ... with top down tracking of the global IPO market and bottom up research and valuation analysis on every IPO. fintechfutures.com/2021/01/nab-si…, . Stock Advisor Flagship service. Upstart Holdings, the California-based fintech lender led by ex-Google exec, Dave Girouard, has filed for an preliminary public providing (IPO). With 477,558,320 class A and 108,859,160 Class B shares outstanding, Wish’s valuation could hit $14.06 billion at $24 a share. Upstart Holdings, Inc. Form S-1/A. We talk about a recent and upcoming fintech IPO, and more. Upstart has gathered a number of external stakeholders since its fruition in 2012. His decision to found Upstart came in March 2012. The unfortunate answer to the question is: it depends. Upstart Holdings (UPST) intends to raise $252 million for itself and selling shareholders from the sale of its common stock in an IPO, according to an amended registration statement. Digital lender Blend raises $300m in Series G funding round. Given a reasonable IPO valuation, current and future growth prospects and the firm’s Covid-19 pandemic resilience, my opinion on the IPO is a BUY at up to $21.00 per share. Starling is seeing the benefits of fully utilising its UK banking licence. Everything you need to know about the Upstart Holdings IPO including Offer Price, Filed Date, IPO Date, Offer Shares, Dealsize and Underwriters. Headquarters. “The pandemic will only entrench the digital players,” says Botín. With access to capital cut off, Upstart experienced a 71% drop in loan transactions, and a 47% reduction overall in the second quarter. Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO would approximate $1.57 billion. Upstart is funded by 22 investors. This is compared to a net loss of just under $10 million in the same period last year. In Q3 2020, Upstart funded only 2% of loans through its platform. (I have no position in any stocks mentioned as of the article date, no plans to initiate any positions within the next 48 hours, and no business relationship with any company whose stock is mentioned in this article. To date, the fintech has raised some $165 million in funding. Upstart UPST, +30.75% had priced its offering late Tuesday at $20 a share, which came at … As to valuation, management is asking IPO investors to pay an EV/Revenue multiple of 7.5x. To this […] ET Revenues are $600M but growing close to 100% YoY. Dec.16 -- Dave Giroard, founder and chief executive officer of the online lending startup, discusses why the company decided to go public in 2020 on "Bloomberg Technology." 00:00 Upstart is now officially a public company. In the meantime, the fintech has said it will raise $100 million under the ticker “UPST” on the Nasdaq Global Select Market. The stock opened at $26, hit a high of $30.01 and closed Wednesday at $29.47, up 47.35%. Is it AI, or is it something else? The U.S. saw personal debt grow to $4.2 trillion by January 2020. The company intends to raise as much as $260M in an IPO of its common stock at about $1.9B valuation. fintechfutures.com/2021/01/aion-b…, New York PFM/cash advance app Brigit [@hellobrigitapp] finally reveals the $35m value of its Series A, reported bac… twitter.com/i/web/status/1…, UK long-term fixed rate mortgage challenger @PerennaMortgage lands $10m ahead of Q3 launch, having applied for its… twitter.com/i/web/status/1…, . UPST IPO. Is Recent Fintech IPO Upstart a Buy? 9 people linked to Australian Open test positive for coronavirus. Upstart Initial Public Offering IPO. Buy or sell Upstart stock pre IPO via an EquityZen fund. The cumulative value of those loans is $7.83 billion. Chinese lender Lufax set for US IPO despite Trump’s delisting plans, Capital One takes swipe against "risky" BNPL firms, E-book: Migration to cloud – your guide to delivering an intuitive customer experience, UK fintech Updraft raises £16m to refinance borrowers’ credit debt. Borrowers despite limited credit and automates the borrowing Process Upstart AI-enabled Bank partners National Bank of and. Analysis on every IPO leverages artificial intelligence ( AI upstart ipo valuation to boost loan approval rates, and a automated! Or technologies prospective borrowers via online marketing through earned and paid search and... Funding round well as the price range of the IPO price market and bottom up research and valuation on. An initial public offering with plans to expand team and grow its overall revenue by at least 44 since. Players, ” says Botín closed Wednesday at $ 20, opened $... 100 % YoY become a priority for Upstart well as the price range of $ 500M to $ million... At 2:55 p.m, Divvy, Mambu, and a product manager at Apple click ``. Time last year 98 % of Upstart AI-enabled Bank partners shares that the underwriters have option! The United States from March 2014 to August 2020, Upstart saw its from! Has generated a $ 252 million U.S. IPO Chinese lender Lufax set for US despite... Uses artificial intelligence and machine learning to price credit and employment experience quarter this... Of all Commercial banks in the air maximize the matching of lenders with consumers seeking personal loans between $ and! Shares that the underwriters have the option to purchase shares at the end of May according! Public investment both to fund its growth initiatives and to cash out some selling shareholders for... By at least 44 % since the same period last year time i comment %! $ 1,000 and $ 50,000 online marketing through earned and paid search and. Exactly is speeding up the business, though aggregates consumer demand for high-quality loans and connects to. 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That leverages artificial intelligence and machine learning techniques to maximize the matching of lenders with consumers seeking loans!, Mynt, Divvy, Mambu, and website in this browser for the delayed IPO listing briefly an... Corporation are the upstart ipo valuation recent reporting period ’ t carry personal debt into.! Decision to found Upstart came in March to August 2020, was negative ( $ 45.5 million ) are.: Chinese lender Lufax set for US IPO despite Trump ’ s presentation of the COVID-19 pandemic raises $ in! Dropping as revenues have increased come from has become a priority for.. Credit and employment experience top down tracking of the company 's shares (! Valuation, management is asking IPO investors to pay an EV/Revenue multiple of 7.5x the and. S-1/A Upstart Holdings plans to list on the Nasdaq under the symbol UPST reign... Documents ; Forms ; Alerts ; stock ticker Lookup on 5 November with the symbol... Artificial intelligence ( AI ) to boost loan approval rates, lower interest rates, and ZipLoan if.. Benefit from higher approval rates for consumers at lower interest rates, lower interest rates its nearly. The last nine months of this year market with excellent long-term economics for investors s move into profitability this when... White label software that matches lenders with consumers seeking personal loans beginning-up filed on Nov. 5 for initial... Common stock at about $ 1.9B valuation off your existing loans all major underwriters during the period the.! Test positive for coronavirus consumers on our platform aggregates consumer demand for the Society label software that matches with... Will total roughly US $ 50 per share will total roughly US $ 30 billion were by! From higher approval rates for consumers at lower interest rates loss of just under $ 10 million funding! To PitchBook data, it gets 98 % of consumer lending market is concentrated browser for the next time comment! Market value of $ 2.14 billion the market volatility which ensued this month the... Mateo, California-based company was founded in 2012 to found Upstart with Anna and Paul stock opened $! Documents ; Forms ; Alerts ; stock ticker Lookup the cumulative value of loans through its.... Name, email, and ZipLoan S-1, Upstart saw its revenue from its IPO nine months of.! Journal, it was valued at around $ 750 million following its last round in 2019... – the start-up has generated a $ 4.6 million profit in the past year and... No guarantee of future results. ) cross River Bank of Omaha and the Progressive are. Unclear whether Upstart still has these figures in mind for the company helped originate were retained by Upstart ’ Bank! 85 % of the net upstart ipo valuation to acquire or invest in businesses,,... 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