Upstart cofounders Anna Counselman, Dave Girouard and Paul Gu started the company in 2012. UpstartShares of Upstart, a Silicon Valley fintech company that makes personal loans to consumers, rose 47% on its first day of trading, giving it a market value of $2.2 billion. Founded by former Google GOOG executives Dave Girouard and Anna Counselman and data scientist Paul Gu, Upstart makes loans of $1,000 to $50,000 at interest rates ranging from 7% to 36%. Upstart makes most of its loans to people with below-average credit scores, according to an early 2020 report from bond-rating agency Kroll. In the third quarter of 2020, Upstart processed 81,000 loans, a 26% increase from the year prior.

Source: Forbes December 16, 2020 22:17 UTC