Upstart is an online lending marketplace that provides personal loans using non-traditional variables, like education and employment, to predict creditworthiness.

The founding team includes Dave Girouard, VP of Apps for Google , Paul Gu, Thiel Fellow , and Anna Counselman, former Manager of Global Enterprise Customer Programs and Gmail Consumer Operations at Google . [1]

Upstart first launched in April 2012 with an Income Share Agreement (ISA) product, which enabled individuals to raise money by contracting to share a per cent of their future income. In May 2014, Upstart pivoted away from this product and towards the personal loan marketplace. [2] With this pivot, Upstart has been offering a traditional 3-year loan, and has since expanded to offer a 5-year loan as well.

Upstart developed an income and default prediction model to determine creditworthiness of a potential borrower. This means clustering That in addition to traditional underwriting criteria- FICO score, credit report , and income-the Upstart underwriting considers academic variables-Attended college, area of study, GPA and standardized test scores-and work history to Develop a statistical model of the Borrower’s financial capacity and personal propensity to repay. [3]

Upstart raised a $ 1.75M seed round from First Round Capital , Kleiner Perkins Caufield & Byers , New Enterprise Associates , Google Ventures , Crunchfund and Mark Cuban . They subsequently raised a series A round of $ 5.9M qui new investors included Eric Schmidt (Google Executive Chairman), Marc Benioff , Khosla Ventures , Founders Fund , and Collaborative Fund . [1] Jessica Jackley and Bob Kerrey serve as advisors to the company. Most recently,

See also

  • Stilt
  • SoFi
  • Lending Club


  1. ^ Jump up to:b “About Upstart” . Upstart . Retrieved 20 December 2012 .
  2. Jump up^ Ha, Anthony (8 August 2014). “Forming Google Executive Dave Girouard Launches Crowdfunding Service Upstart, Raises $ 1.75M” . TechCrunch.
  3. Jump up^ Keohane, Dennis (April 29, 2014). “Upstart keeps innovating lending models to finance the young and ambitious” . BetaBoston.