On the money: Upstart lending platform files $ 100 million IPO application

Upstart Holdings, one of the leading cloud-based consumer lending platforms, on Thursday filed with the SEC to raise $ 100 million in an initial public offering.

Upstart provides a cloud-based lending platform that harnesses artificial intelligence, and the company believes this enables consumers to benefit from higher approval rates, lower interest rates, and an experience. automated digital.

The San Mateo, Calif., Based company was founded in 2012 and reported sales of $ 209 million for the 12 months ended September 30, 2020. It plans to list on Nasdaq under the symbol UPST . Upstart Holdings filed a confidential filing on March 4, 2020. Goldman Sachs, BofA Securities, Citi, Jefferies and Barclays are the associated bookkeepers in the transaction. No pricing conditions were disclosed.

The article On the Money: Upstart lending platform’s files for a $ 100 million IPO were originally published on the investment manager’s website renaissancecapital.com. IPO, Renaissance Capital.

Disclosure of investments: The information and opinions expressed in this document have been prepared by Renaissance Capital research analysts and do not constitute an offer to buy or sell any securities. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS) or separately managed institutional accounts may have investments in securities of the companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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