Tagged: upstart

Here is the No Action Letter by the CFPB Regarding Upstart’s Request

The Consumer Financial Protection Bureau (CFPB) has issued its first no action letter to online letter Upstart. At the time of the request by Upstart, the online lender had facilitated over 80,000 loans totaling over $1 billion ranging from $1,000 to $50,000 with a term of… Read More

Did Lending Just Change for Good?

Bank lending regulations have rarely been thought of as dynamic or exciting but last night’s ruling by the Consumer Financial Protection Bureau (CFPB) to allow a lender to begin using alternative data in their underwriting could herald the beginning of a new era in lending… Read More

Online Lender Upstart Raises $32.5 Million as Googler Joins as CFO

Online lending platform UpStart has raised $32.5 million led by Rakuten, a Japanese conglomerate that has been pushing into Fintech, and a large “US-based Asset manager”. Existing investors Third Point Ventures, Khosla Ventures, and First Round Capital also participated in the funding round. Oskar Mielczarek de… Read More

Even Financial Milestone: Surpasses $1.5 Billion in Loan Requests & Increases Online Loan Originations by 205%

On Tuesday, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016. The company reported that, with more than $1.5 billion in loan requests, its platform has grown to serve over one million customers with its… Read More

ReliaMax Partners with LendingTree, SimpleTuition, Upstart & Student Loan Hero for Connext Private Student Loans

ReliaMax, a fintech-based and complete private student lending solutions provider, announced the launch of borrower acquisition channel partnerships as part of its Connext Private Student Loans by ReliaMax platform. The inaugural partners include LendingTree, SimpleTuition, Upstart and Student Loan Hero. Borrowers may now access ReliaMax’s Connext… Read More

Brief: Upstart Introduces New Monthly Cash Flow Dashboard to Investors

On Wednesday, Upstart announced the launch of its new monthly cash flow dashboard. The portal revealed that this feature offers investors with an up-to-date picture of their cashflow, which includes both interest and charge-offs. The Upstart team shared: “Thank you investors for providing feedback on… Read More

Another Scampaign? SmartTracker 2 Goes Dark on Indiegogo

Question: What do the following have in common? Smart Tracker 2 Smart Tracker Swiss White Teeth Last Crime Answer: They are each crowdfunding projects on Indiegogo involving a Mr. Julian Buschor. Another fun fact regarding the above campaigns, none of the promised rewards have delivered for… Read More

The Millennial Opportunity: Dave Girouard Talks About Upstart Lending

  Former Googlers Dave Girouard and Anna Mongyat joined with Paul Gu (a Thiel Fellow) to launch Upstart in 2012.  Originally envisioned as a more altruistic lending platform that invested in the person and not the loan – somewhat similar to Pave –  the platform… Read More

UpStart Next Gen Marketplace Lending Platform Raises $35 Million

  UpStart, a three year old marketplace lending platform founded by former Googlers, is a next generation direct lender that wants to leapfrog existing platforms by providing turbocharged data processes to making loans. The first generation marketplace lenders saw opportunity in the bloated and punch… Read More

VPC Specialty Lending Adds Positions in OnDeck, Funding Circle & Others

VPC Speciality Lending Investments (LSE:VSL) has published a brief comment stating they have added investments in several direct lenders including OnDeck Capital, Funding Circle (USA), Upstart Network, Borro and Kreditech.  VPC has also provided a balance sheet loan to Applied Data Finance.  The company acquired… Read More

Bill Introduced To Cement Crowdfunding Individuals & Higher Ed Via Income Share Agreements

Yesterday Senator Marco Rubio (R-FL) and U.S. Representative Tom Petri (R-WI) introduced a piece of legislation that stands to redefine the options on the table for students seeking to fund and finance higher education. The bill, entitled the Investing in Student Success Act, has some serious ramifications… Read More

Upstart Founder Paul Gu Interviewed on CNBC

Upstart was featured on CNBC recently in a video where founder Paul Gu spoke about the platform and their recent success. A young company called Upstart makes it possible to buy a share of someone’s future income. From the side of the upstart, as the… Read More

Is This “Kickstarter for People” a Good Idea?

In my years reporting on startups, I’ve often encountered stories of venture capitalists who’ve invested in a person, rather than a person’s idea. Hustle, an entrepreneurial spirit, a solid education, resolve, sheer likeability–often, these are qualities that seem to matter as much to investors as… Read More

Crowdfunding Site Upstart Turns 1, Raises $5.9 Million

Upstart, started by reformed Googlers, is a crowdfunding site that crowdfunds you with a slice of economic freedom. In their own words, Upstart aims to help you with the most important part of pursuing your dreams – taking the first step. It may be as… Read More

The Next Big Thing in Crowdfunding? Kickstarting People

… Let’s start with Kickstarter as the obvious crowdfunding example. The company was founded by three guys with no previous finance experience. The target return for investors who back development of new products — from objects to movies — on Kickstarter is … nothing. Backers are instead… Read More

New crowdfunding platforms let you sell stock in yourself

Trina Spear, 29, graduated in 2011 with an MBA from an elite school and a hefty $170,000 in student loans. The debt was the reason she took a job in private equity rather than start her own company. “For someone coming out of Harvard Business… Read More

Crowdfunders cheer on new graduates

Sure, we all believe that youth must be served, but are you willing to invest in their future — literally? Crowdfunding platform Upstart, which launched in October, lets recent college graduates raise cash from online backers, who in return get a slice of their income… Read More

Selling Their Futures: College Grads Promise a Slice of Their Future Income for Cash Now

The start of Nathan Sharp’s story sounds familiar: In 2012, he found himself graduating from Dartmouth College with an MBA and $100,000 in student debt. But rather than take whatever job would help him make his monthly payments, the entrepreneurial-minded Sharp took $50,000 from backers using… Read More

Backers invest in people, not businesses through ‘Upstart’

Like many early-stage entrepreneurs, Shefali Friesen poured all her personal savings into her start-up, a mobile service for adding bits of music evoking emotions to text messages. As she worked toward her graduate degree in music at New York University, Friesen felt neither the start-up… Read More

Young entrepreneur crowdfunding site Upstart expands to Boston area universities

Upstart, a Silicon Valley startup led by Massachusetts native and former Google (Nasdaq: GOOG) executive Dave Girouard, has extended its crowdfunding site for young entrepreneurs to students and recent alumni of five Boston area universities. The Upstart site, which launched in August, allows entrepreneurs to… Read More