Upstart Holdings, Inc launches an IPO.

An IPO of Upstart Holdings, Inc. will take place on December 15, 2020. Upstart is a leading cloud-based artificial intelligence lending platform. Upstart uses artificial intelligence and machine learning to determine a credit price and automate loans. The AI model targets lending rate reduction, income fraud, loan aggregation, prepayment prediction, identity fraud and default prediction. Upstart’s AI Model includes over 1600 variables. Upstart is a customizable multi-user cloud application that integrates easily into the bank’s existing technology systems. Thus, the platform allows each bank to define its own lending policy and its important parameters.
The listed IPO bookrunners are Goldman Sachs, BofA Securities, Citigroup, Jefferies, Barclays, JMP Securities and Blaylock Van, LLC.