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Upstart raises $50m investment and lands new bank contracts 9th April 2019 The funding from Progressive Investment Company, Healthcare of Ontario Pension Plan and First National Bank of Omaha brings Upstart’s total raised to $160 million to date. Upstart’s strategy is to partner with banks, offering its AI platform as a white-labelled lending application that banks can use to enhance their own lending programmes. The company has also announced new “Powered by Upstart” partnership agreements with First National Bank of Omaha, First Federal Bank of Kansas City and Accion Chicago. Upstart has originated more than $3.3 billion of loans in the last five years, grew revenues by about 80% in 2018 and reached profitability in the second half of the year. The company says that 60% of its originations in 2019 have been entirely automated and approved in real time. Now expecting to expand its AI platform to other forms of credit, the company recently partnered with Customers Bank’s BankMobile division to launch two new credit cards, the first to be powered by Upstart. https://www.bankingtech.com/2019/04/upstart-raises-50m-inves… Last year, the company announced a $32 million round of funding led by Rakuten, the Japanese eCommerce company. That brought Upstart’s total amount raised to $85 million. At the time, the company said it would put the money toward future growth, as well as to help license the technology to banks, credit unions and retailers. https://www.pymnts.com/loans/2018/online-lending-upstart-fun…" target="_blank" rel="nofollow ugc noopener">https://www.pymnts.com/loans/2018/online-lending-upstart-fun… |
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| aus der Diskussion: | The less bumpy way to ride e-commerce = Rakuten |
| Autor (Datum des Eintrages): | FlankerStan (19.05.19 22:17:56) |
| Beitrag: | 2,877 von 10,815 (ID:60599348) |
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