Chicago-based Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, said it will increase its investment in Upstart loans from $100m to $500m.
Founded by Dave Girouard, CEO, Upstart provides a lending platform that leverages a proprietary underwriting model to finance people who aren’t well-served by traditional lenders based on signals of their potential, including employment history and academic performance.
In the 11 months since inception, the Palo Alto, Calif.-based platform has provided more than 5,000 loans totaling $70m.
FinSMEs
06/04/2015