Upstart Holdings, a leading cloud-based consumer lending platform, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Upstart provides a cloud-based lending platform that leverages artificial intelligence, and the company believes that this allows consumers to benefit from higher approval rates, lower interest rates, and an automated digital experience.
The San Mateo, CA-based company was founded in 2012 and booked $209 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol UPST. Upstart Holdings filed confidentially on March 4, 2020. Goldman Sachs, BofA Securities, Citi, Jefferies and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.
