Upstart Holdings, Inc.

Upstart is an artificial intelligence (AI) lending marketplace established in 2012. The company uses proprietary AI models to streamline the lending process for Americans, supporting unsecured and secured credit products. These products include personal loans, auto loans, and home equity lines of credit (HELOCs). Upstart's platform applies AI to assess the true risk of a loan, a capability referred to as "risk separation." This approach aims to provide higher approval rates and lower interest rates compared to traditional lending methods, while offering predictable returns to its lending partners, which include banks and credit unions, and institutional investors. Beyond core underwriting, Upstart utilizes its AI models for income and identity verification, fraud detection, and identifying loan stacking behavior. The platform offers a digital-first experience with high levels of automation. In 2025, 91% of loans on the platform were fully automated, requiring no human intervention from Upstart.