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Upstart Holdings Priced, Nasdaq: UPST

Operates an online consumer lending platform connecting banks and individuals.

Industry: Financials

Latest Trade: $21.50 0.00 (0.0%)

First Day Return: +47.4%

Return from IPO: +7.5%

Industry: Financials

We are a leading, cloud-based artificial intelligence lending platform. Artificial intelligence, or AI, lending enables a superior loan product with improved economics that can be shared between consumers and lenders. Our platform aggregates consumer demand for high-quality loans and connects it to our network of Upstart AI-enabled bank partners. Consumers on our platform benefit from higher approval rates, lower interest rates, and a highly automated, efficient, all-digital experience. Our bank partners benefit from access to new customers, lower fraud and loss rates, and increased automation throughout the lending process. Since inception, our bank partners have originated over 620,000 personal loans that have generated more than 9 million repayment events. In the nine months ended September 30, 2020, approximately 70% of Upstart-powered loans were entirely automated. Loans issued through our platform can be retained by our originating bank partners (22% of 3Q20 loans); distributed to our broad base of approximately 100 institutional investors and buyers that invest in Upstart-powered loans (76%), such as Goldman Sachs, PIMCO, and funds managed by Morgan Stanley Investment Management; or funded by Upstart’s balance sheet (2%).
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IPO News for Upstart Holdings
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IPO Data
IPO File Date 11/05/2020
Offer Price $20.00
Price Range $20.00 - $22.00
Offer Shares (mm) 12.0
Deal Size ($mm) $240
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 12/15/2020
Offer Price $20.00
Price Range $20.00 - $22.00
Offer Shares (mm) 12.0
Deal Size ($mm) $240
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters San Mateo, CA
Founded 2012
Employees 429
Website www.Upstart.com