Upstart , the leading artificial intelligence (AI) lending marketplace, announced a forward-flow commitment from funds managed by affiliates of Fortress Investment Group LLC (“Fortress”). Fortress has agreed to purchase up to $1.2 billion of consumer loans originated on the Upstart platform through March 2026.
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“This forward-flow agreement with Upstart reflects our continued pursuit of high-quality, risk-adjusted consumer credit assets,” said Matt Biczak, Managing Director at Fortress Investment Group. “Upstart’s platform provides access to a scaled, data-driven origination channel with a strong track record of credit outcomes, and we believe this agreement represents a compelling opportunity for our investors.”
The agreement with Fortress continues the large-scale partnerships that Upstart has formed to secure diversified and resilient sources of capital for use across economic cycles.
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“At Upstart, we aspire to deliver the best rates and the best process for all borrowers, and market leaders like Fortress will help make that possible,” said Upstart Chief Financial Officer Sanjay Datta. “We’re excited about the momentum we’re seeing in private credit and the confidence it shows in AI-powered lending.”
Citi will provide the debt financing to Fortress for the loan purchases.
About Upstart
Upstart is the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions that leverage Upstart’s AI models and cloud applications to deliver superior credit products. With Upstart AI, lenders can approve more borrowers at lower rates while delivering the exceptional digital-first experience customers demand. More than 90% of loans are fully automated, with no human intervention by Upstart. Founded in 2012, Upstart’s platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans. Upstart is based in San Mateo, California.
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Source: Businessnewswire
