#LendTech / US fintech lender Upstart Holdings files for IPO

Upstart’s head, Dave Girouard, previously served as Google Enterprise’s president. He oversaw the Big Tech’s $1 billion cloud apps business worldwide.

The cloud-based lending platform uses artificial intelligence (AI) to boost loan approval rates for consumers at lower interest rates. Last month, the company announced it had hired more than 100 engineers since it founded.

According to Silicon Valley Business Journal, it gets 98% of its revenue from its referrals to lending partners.

Between 2017 and 2019, Upstart’s revenue has nearly tripled to $164 million…