“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.
Categories
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 […]