What is Upstart?
Founded in 2012 and headquartered in San Mateo, California, Upstart operates an advanced online lending marketplace that disrupts traditional credit assessment models. By leveraging non-traditional variables such as educational background and employment history, the company provides a more nuanced prediction of creditworthiness than legacy banking institutions. This data-driven approach allows Upstart to facilitate personal loans more efficiently, positioning the firm as a critical bridge between institutional capital and consumer credit needs in an increasingly digital financial ecosystem.
How much funding has Upstart raised?
Upstart has raised a total of $676M across 9 funding rounds:
Angel/Seed
$1.8M
Debt
$2M
Series A
$5.9M
Series B
$18.9M
Series C
$32.5M
Unspecified
$50M
Debt
$5M
Stock Offering
$240M
Debt
$320M
Angel/Seed (2012): $1.8M with participation from New Enterprise Associates, First Round Capital, Google Ventures, and Kleiner Perkins Caufield & Byers
Debt (2013): $2M, investors not publicly disclosed
Series A (2013): $5.9M supported by First Round Capital, Collaborative Fund, Founders Fund, and Khosla Ventures
Series B (2014): $18.9M featuring Bradley Horowitz and Khosla Ventures
Series C (2017): $32.5M backed by Khosla Ventures, Third Point Ventures, First Round Capital, and Rakuten
Unspecified (2019): $50M with participation from Progressive Investment Company, HOOPP, and First National Bank of Omaha
Debt (2020): $5M led by PPP
Stock Issuance/Offering (2020): $240M supported by Undisclosed
Debt (2025): $320M, investors not publicly disclosed
Key Investors in Upstart
Khosla Ventures
Khosla Ventures provides venture assistance and strategic advice to entrepreneurs working on breakthrough technologies. The firm focuses on a broad range of areas including consumer, enterprise, AI, fintech, and financial services.
Collaborative Fund
Collaborative Fund is a leading source of capital and strategic support for entrepreneurs pushing the world forward, with a portfolio that includes several high-growth fintech and consumer-facing companies.
Founders Fund
Founders Fund invests in the world's most important and valuable companies across all geographies and sectors, pursuing a founder-friendly investment strategy that provides maximum support.
What's next for Upstart?
With the recent injection of $320M, Upstart is well-positioned to accelerate its product development and expand its market reach. The company's strategic focus remains on refining its AI-driven underwriting models to maintain its competitive edge in the fintech landscape. As the firm navigates the complexities of the current economic environment, this capital will likely be deployed to enhance its platform infrastructure, support new lending partnerships, and solidify its standing as a leader in automated financial services. The ongoing support from high-profile venture capital firms suggests a long-term commitment to scaling Upstart's innovative credit solutions.
See full Upstart company page
