Upstart

Upstart is an AI lending platform that partners with banks and credit unions to improve access to affordable credit using machine learning. Unlike traditional lenders that rely primarily on FICO scores, Upstart's AI models consider over 1,600 variables to assess creditworthiness, enabling more accurate risk assessment that approves more borrowers at lower rates of loss.

The company's AI has been shown to approve 44% more borrowers than traditional models while experiencing 44% lower loss rates, according to the company. This is particularly impactful for younger borrowers, thin-file consumers, and other groups who are underserved by traditional credit scoring — people who are creditworthy but lack the conventional signals that FICO captures.

Upstart went public in 2020 and has facilitated billions of dollars in loans through its platform. The company has expanded from personal loans into auto lending, home equity lines of credit, and small business lending, applying its AI advantage across multiple credit products through partnerships with over 100 bank and credit union partners.