Upstart (UPST) announced a forward-flow commitment from funds managed by Castlelake. Castlelake has agreed to purchase up to $1.5B in consumer loans originated through the Upstart platform. The purchase agreement consists of a new 12-month forward flow arrangement and is the third such agreement between Upstart and Castlelake. “It supports Upstart’s ability to deliver a consistent loan funding platform across a variety of economic environments,” the company said in a statement. The earlier transactions between Upstart and Castlelake were an agreement to purchase up to $4B of consumer installment loans originated on Upstart’s platform, and an agreement to purchase up to $1.2B of consumer installment loans in 2023.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UPST:
- Pathward Financial partners with Upstart to offer personal loans
- Upstart price target lowered to $66 from $105 at B. Riley
- Upstart price target lowered to $40 from $54 at Goldman Sachs
- Upstart Holdings Q3 Earnings: Robust Growth Amid Caution
- Upstart price target lowered to $56 from $80 at Piper Sandler