Upstart
Upstart Raises $400M in Convertible Note
Quick Facts
Upstart Raises $400M in Convertible Note
Upstart has successfully raised $400M in a Convertible Note at a $3.7B valuation led by Third Point Ventures, Khosla Ventures, Rakuten, Google Ventures, Institutional Venture Partners, Credicorp Capital.
Company Overview
Upstart is a FinTech company headquartered in 2950 South Delaware Street, San Mateo, CA 94403, founded in 2012 with 1800+ employees.
AI lending platform
Fundraising Details
- Amount Raised: $400M
- Round Type: Convertible Note
- Valuation: $3.7B
- Date: 2024-03-19
- Investors: Third Point Ventures, Khosla Ventures, Rakuten, Google Ventures, Institutional Venture Partners, Credicorp Capital
About Upstart
AI lending platform The company is positioned in the FinTech sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: 2950 South Delaware Street, San Mateo, CA 94403
- Founded: 2012
- Team Size: 1800+
- Industry: FinTech
What This Means
This funding round demonstrates strong investor confidence in Upstart's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The FinTech sector continues to attract significant investment as companies innovate to meet evolving market demands. Upstart's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $3.7B valuation marks an important milestone for Upstart, positioning the company among notable players in the FinTech industry.
Looking Ahead
With this new capital, Upstart is well-positioned to execute on its growth strategy and continue building innovative solutions in the FinTech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
This fundraising news was reported on 2024-03-19. For more information about Upstart, visit their headquarters at 2950 South Delaware Street, San Mateo, CA 94403.
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