Upstart Holdings, a cloud-based AI lending platform, has filed Form S-1 Registration Statement on November 5, 2020 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce.
The company enables a superior loan product with improved economics that can be shared between consumers and lenders through its AI lending platform. It aggregates consumer demand for high-quality loans and connects it to our network of Upstart AI-enabled bank partners.
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 Global Select Market under the symbol “UPST.” Goldman Sachs, BofA Securities, Citi, Jefferies and Barclays are underwriters of the IPO.
The company engages Wilson Sonsini Goodrich & Rosati, P.C. as US Securities Counsel, and Deloitte & Touche LLP as Independent Auditor.
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