Upstart launches earned wage access product, says BTIG

Upstart (UPST) launched its “Cash Line” product, offering approved customers a $200-$5,000 revolving line with instant access, flexible repayment, and a $10 monthly membership for lines up to $500, while draws above $500 carry 5%-36% APR, BTIG tells investors in a research note. The product resembles offerings from Dave (DAVE), Chime (CHYM), and Brigit (UPBD) but differentiates itself by waiving extra fees for expedited access, positioning it competitively in the Earned Wage Access space, the firm says. BTIG has a Neutral rating on shares of Upstart.

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