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Upstart Holdings (NASDAQ: UPST)

Upstart is an American fintech company that utilizes artificial intelligence (AI) and machine learning algorithms to help individuals obtain loans. The company was founded in 2012 by ex-Google employees, Dave Girouard, Paul Gu, and Anna Counselman, with the goal of using technology to improve the lending process.

Upstart’s lending platform takes into account factors beyond traditional credit score, such as education, work experience, and other data points to assess an individual’s creditworthiness. The platform then matches borrowers with investors looking to fund loans. Upstart’s AI algorithms help to automate the loan approval process, reducing the time and cost associated with traditional lending.

The company has partnerships with several banks and other financial institutions to offer its lending services to a wider range of consumers. Upstart’s loans are primarily focused on personal loans and student loans, with loan amounts ranging from $1,000 to $50,000.

In addition to its lending services, Upstart has also developed a credit scoring model that uses machine learning to help lenders assess borrowers’ creditworthiness. The company’s credit scoring model has been shown to be more accurate than traditional credit scoring models in predicting credit risk.

Upstart went public in December 2020 and is traded on the NASDAQ stock exchange under the ticker symbol UPST. The company has received several awards for its innovative approach to lending, including being named one of the world’s most innovative companies by Fast Company in 2020.

Dave Girouard, Anna Counselman, Paul Gu
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