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Upstart (NASDAQ: UPST), an artificial intelligence (AI) lending marketplace, announced today a forward-flow commitment from funds managed by Castlelake, L.P. ("Castlelake"), a global alternative investment firm specializing in asset-based private credit investments. Castlelake has agreed to purchase up to $1.5 billion 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.
Posted In: UPST
