SAN MATEO, California — November 6, 2025 — Leads & Copy — Upstart (NASDAQ: UPST) has secured a forward-flow commitment of up to $1.5 billion from funds managed by Castlelake, L.P., an alternative investment firm specializing in asset-based private credit investments. Under the agreement, Castlelake will purchase consumer loans originated through Upstart’s AI lending marketplace.
This 12-month forward flow arrangement is the third such agreement between Upstart and Castlelake, aimed at supporting Upstart’s ability to maintain a consistent loan funding platform regardless of economic conditions.
Sanjay Datta, Chief Financial Officer at Upstart, expressed delight at the opportunity to expand their partnership with Castlelake, stating that the investment will help improve the lending experience for all borrowers. He also thanked Castlelake for their continued support.
Previous transactions between the two companies include an agreement for Castlelake to purchase up to $4 billion of consumer installment loans originated on Upstart’s platform, and another agreement in 2023 to purchase up to $1.2 billion of similar loans.
Upstart, founded in 2012 and based in San Mateo, California, operates an AI lending marketplace connecting consumers with over 100 banks and credit unions. Its AI models and cloud applications enable lenders to approve more borrowers at lower rates while providing a digital-first customer experience. The platform automates over 90% of loans without human intervention and includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans.
Forward-looking statements within the press release are subject to risks and uncertainties, with no guarantee as to actual results. Upstart does not undertake any obligation to update or revise any of the forward-looking statements due to new information. Further information regarding these risks is available in Upstart’s public filings with the Securities and Exchange Commission.
Contact:
Upstart Investor Relations
Source: Upstart
