While the world waits for the Airbnb IPO filing that could come as early as next week, Upstart dropped its own S-1 filing. The fintech start-up facilitates loans between customers and partner banks, an operation that attracted around$144 million in capital prior to its IPO. Preliminary Capital, Khosla Ventures, Third Point Ventures, Rakuten and The Progressive Corporation led rounds in the startup, according to Crunchbase data. There’s rather a lot to like in Upstart’s IPO filing, consisting of quickly advancing earnings and recent successful period. The company’s earnings concentration might be an issue to some investors who remember what recently took place to Fastly shares after losing a large client. PitchBook data suggests that the business was last valued at$750 million thanks to its 2019 Series D worth$50 million. Can Upstart reach unicorn status with its IPO? Let’s peek at the numbers and try to answer the concern. Results, earnings Upstart’s technology uses what it describes as expert system(AI)to authorize customer loans. It gathers customer demand for credit and links that need to bank partners who money the loans. The business’s AI-powered credit tool can give customers”greater approval rates [

and] lower rates of interest,”according to its S-1 filing, which provides banks” access to new customers, lower scams and loss rates, and increased automation.”If Upstart’s AI tool can, in truth, more wisely figure out consumer

creditworthiness,

everyone could come out a winner, with customers paying less and banks contributing to their loan books without handling outsized threat. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.