Upstart Holdings Strengths, Domain Expertise, and Key Differentiators
Upstart is a lending platform that leverages artificial intelligence and machine learning to price credit and automates the borrowing process. The company's proprietary underwriting model identifies borrowers despite limited credit and employment history by using variables including schools attended, area of study, and work experience. Upstart-powered banks can offer higher approval rates and experience lower loss rates, while simultaneously delivering the exceptional digital-first lending experience their customers demand.
Upstart Holdings Recent Developments
In October 2021, the Artificial-intelligence (AI) lending platform Upstart launched Auto Retail software, a cloud-based solution that connects the retail purchasing process at dealerships with Upstart’s AI-powered credit decisioning platform. Upstart Auto Retail is the evolution of Prodigy Software, acquired by Upstart in April 2021. Upstart Auto Retail is an end-to-end retail platform that has helped top franchised dealers from 33 top brands such as Toyota, Honda, Subaru and Ford sell billions of dollars of new and used cars and increase customer satisfaction. More than $1 billion of vehicles were sold through the Upstart Auto Retail platform in Q2 2021.
Upstart Holdings Mergers and Acquisitions (M&A) Activities
In April 2021, Upstart Holdings completed the acquisition of Prodigy Software for $58 million. Under the terms of the agreement, on the closing date, Upstart Holdings paid $18 million in cash and issued 650,767 shares of common stock.
Upstart Holdings Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Upstart Holdings applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Upstart Holdings and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Upstart Lending Platform, Upstart Auto Retail customers.
Upstart Holdings Overview
Ownership: - NASDAQ: UPST
Number of Employees: 1497
Functional Markets: ERP Services and Operations Management,
Upstart Holdings Key Enterprise and Cloud Applications
Upstart Lending Platform, Upstart Auto Retail
Upstart Holdings Revenues, $M:
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Upstart Holdings Revenue Breakdown By Type, $M:
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Upstart Holdings Enterprise Applications Revenues By Functional Markets, $M:
Upstart Holdings Enterprise Applications Revenues By Verticals, $M:
Upstart Holdings Revenues By Region, $M
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Upstart Holdings Direct vs Indirect sales
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Upstart Holdings Customers - Breakdown by Geo, Size, Vertical and Product
No. of Upstart Holdings Customers: 500+
No. of Upstart Holdings Enterprise Applications Customers: x
No. of Upstart Holdings Cloud Customers: x
No. of Upstart Holdings Cloud Subscribers: 2.1 million
Upstart works with 57 partner banks to offer lending products. It acts as a middleman between consumers and banks. For its customers, Upstart helps them get instant access to loans. For its banking partners, it helps them make lower-risk loans. Some of their partner banks are: Customers Bank, Apple Bank, Patelco Credit Union, First National Bank of Omaha, Oriental Bank, Telhio Credit Union, First Federal Bank, and many more. The Upstart Auto Retail gross sales and origination platform now serves over 410 automotive dealerships throughout the U.S. Some of their dealership customers are: Germain Automotive Group, Del Grande Dealer Group, Lexus of Lehigh Valley, and Power Kia.
Upstart Holdings Market Opportunities, M&A and Geo Expansions
In May 2022, Upstart, an artificial intelligence (AI) lending platform, announced Upstart AI Lending for Salesforce on Salesforce AppExchange. Aimed to bring AI-enabled lending to the financial services industry, this integration can help financial institutions modernize lending, stay competitive, and provide better customer service to clients. With Upstart AI Lending for Salesforce, bank and credit union personnel can initiate an AI-enabled digital lending experience for customers across any interaction, whether in person with a banker at a local branch, on the phone with a call center agent, or from a scan of a QR code, directly from Salesforce Financial Services Cloud.
Upstart Holdings Risks and Challenges
In May 2022, A.I. lender Upstart shares plummeted more than 50% after the company cut its full-year revenue forecast. Shares of Upstart plummeted Tuesday after the artificial intelligence lending platform cut its full-year revenue outlook, citing rising interest rates and an uncertain economy. The company had reported better-than-expected first-quarter results, but also slashed its 2022 revenue forecast to $1.25 billion from a prior estimate of $1.4 billion. The stock closed 56.4% lower at $33.61 per share. Upstart is down 91.6% from its high of $401.49 per share notched in October 2021.
Upstart Holdings Ecosystem, Partners, Resellers and SI
In November 2021, the fintech Upstart announced that is planning to work with banks and credit score unions to supply a product that has heretofore been uncommon: small-dollar shopper loans at annual proportion charges under 36%. The San Mateo, California-based firm, which already companions with banks and credit score unions on installment loans and auto loans, introduced plans to assist provide credit score to customers who want emergency money. Such loans are usually fairly costly, payday lenders usually cost triple-digit annual proportion charges however, Upstart said its synthetic intelligence underwriting fashions will allow loans with APRs under 36%.
Upstart Holdings Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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