Upstart

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Upstart is a leading AI lending platform partnering with banks and credit unions to expand access to affordable credit. As we transitioned to being a public company, we’re now poised to leverage our domain expertise and revolutionize every aspect of lending and credit risk evaluation. We’ve recently expanded our offerings to include automobile refinancing and we plan to take on more verticals as the business grows. By leveraging Upstart’s AI platform, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates, while simultaneously delivering the exceptional digital-first lending experience their customers demand. Upstart’s patent-pending platform is the first to receive a no-action letter from the Consumer Financial Protection Bureau related to fair lending. Upstart not only supports a large remote workforce, but also has offices in San Mateo, CA; Columbus, OH; and Austin, TX.

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3.2

Overall Excellence Rating

Industry

AI and machine learning

Category

Banking & Lending

ESG/Ethical Impact

Upstart’s mission is to enable effortless credit based on true risk. Our artificial intelligence (AI) lending marketplace is designed to improve access to affordable credit while reducing the risk and costs of lending for our bank and credit union partners. We believe our model is one of the most accurate, fair, and inclusive in the market, improving outcomes for all groups, and making the credit system more accessible, affordable, and secure. With Upstart’s AI, lenders can approve more applicants, with lower average APRs and at lower loss rates than traditional credit score models. This improves the financial health of Americans and unlocks opportunity for them. Closing the racial wealth gap requires a sustained, collective effort, and Upstart has been partnering with Minority Depository Institutions (MDIs) to expand credit access to previously underserved communities. About 45 percent of MDI branches and branch deposits are in counties the Centers for Disease Control and Prevention (CDC) designates as socially vulnerable and prone to economic, health and safety challenges, including illness and natural disaster.3 Upstart has made a sustained effort to support these institutions in a variety of ways. Upstart understands that flexibility and support for borrowers while servicing their loans is necessary in order to expand access to credit. As part of that mission, Upstart offers programs to support borrowers should difficulties arise when meeting their loan obligations. Our Loan Modification Program supports borrowers in all Upstart products when facing hardships. We believe that the responsible use of artificial intelligence requires careful stewardship of the technology by all parties involved. Upstart has played a leadership role in the technology industry by collaborating with regulators, lawmakers, civil society groups, banks and credit unions, and technology ? providers to bring transparency and accountability to mitigating AI bias.Upstarters produce high impact solutions to solve tough problems for real people. ? Our team is composed of smart, humble, and innovative problem solvers who have the opportunity to accelerate their careers in the fintech industry while working towards a shared social good.

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Awards Received

2023

Revenues

$157,000,000.00

Website Traffic

Employee Rating

3.6

Customer Rating

3.4

Company Size

1000-5000

ESG Risk Rating

3

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