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Ex-Googlers Dave Girouard and Anna Counselman and Thiel Fellow Paul Gu hire Sanjay Datta as CFO, raise $32.5M for San Carlos-based lending startup Upstart – Silicon Valley Business Journal

“There’s been a lot of overheated activity in this sector, “Girouard said. “There were a lot of companies growing for the sake of growing and having credit problems as a result of that and losing a lot of money as a result of that.”Upstart loans are designed to make a profit when they are originated […]

“There’s been a lot of overheated activity in this sector, “Girouard said. “There were a lot of companies growing for the sake of growing and having credit problems as a result of that and losing a lot of money as a result of that.”Upstart loans are designed to make a profit when they are originated and the company funds about 20 percent of them itself. That aligns its interests with those of the investors who ultimately finance the loans.

Source: Ex-Googlers Dave Girouard and Anna Counselman and Thiel Fellow Paul Gu hire Sanjay Datta as CFO, raise $32.5M for San Carlos-based lending startup Upstart – Silicon Valley Business Journal

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