Upstart Holdings’ Transaction Volume (2020-2022)

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This statistic highlights Upstart Holdings’ Transaction Volume, reported on a quarterly basis from Q1 2020 onwards.
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This statistic highlights Upstart Holdings’ Transaction Volume (in Dollars), reported on a quarterly basis from Q1 2020 onwards.

Upstart Holdings Inc. and its subsidiaries apply modern data science and technology to the process of originating consumer credit. Upstart helps bank partners originate credit by giving them a proprietary, cloud-based, artificial intelligence lending platform. As the company’s technology continues to improve, more banks have started adopting the Upstart platform, and consumers are gaining access to more affordable, frictionless credit.

The company defines Transaction Volume, Dollars as the total principal of loans transacted on their platform between a borrower and the originating bank during the period presented. It defines Transaction Volume, Number of Loans as of the number of loans facilitated on their platform between a borrower and the originating bank during the period presented. Upstart thinks that these metrics are good proxies for their overall scale and reach as a platform.

Upstart Holdings’ Transaction Volume

Category Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021
Transaction Volume (Dollars) $1.25 $1.73 $2.80 $3.13 $4.10

(All figures in billions)

Upstart Holdings’ Transaction Volume inclined from $1.25 billion in Q4 2020 to $4.10 million in Q4 2021, marking a huge increase of 228% ($2.85 billion) on a year-on-year basis. Quarterly, the number of wafers shipments showed an increase of around 30.99% (0.97 billion) as the number of users inclined from $3.13 billion in Q3 2021 to $4.10 billion in Q4 2021.

In 2020, The company’s transaction volume witnessed fluctuations. This is evident from the fact that the transaction volume decreased from $1.12 billion in Q1 2020 to $0.16 billion in Q2 2020, registering a decline of 85.71% (0.96 billion). This was further continued with a recovery in the transaction volume amounting to $0.91 billion in Q3 2020, accounting for a rise of 468.75% ($0.75 billion). This was followed by a further growth in the transaction volume in Q4 2020 amounting to $1.25 billion, setting a rise of 37.36% ($0.34 billion). In the next year, Upstart’s transaction volume witnessed an incline from $1.25 billion in Q4 2020 to $1.73 billion in Q1 2021, projecting a growth of 38.4% (0.48 billion).

In 2021, the company’s transaction volume witnessed showed a constant and positive trend. Thus, the transaction volume rose from $1.73 billion in Q1 2021 to $2.80 billion in Q2 2021, accounting for an incline of about 61.85% ($1.07 billion). This was followed by continued growth in the transaction volume by 46.43% ($1.3 billion) as it increased from $2.80 billion in Q2 2021 to $4.10 billion in Q4 2021

On an overall analysis of the past years, it can be concluded that the company witnessed fluctuations in the transaction volume in all the quarters from 2020 to 2021. However, on a closer look at the statistics, it can be seen that there is a rise in the number of shipments from $1.12 billion in Q1 2020 to $4.10 billion in Q4 2021, marking a huge growth of 266.07% ($2.98 billion). 

About the Company

Upstart Network, Inc. was founded in 2012 in Delaware. As part of the restructuring, Upstart Holdings, Inc. was founded in December 2013 and has become a holding company for Upstart Network, Inc. Upstart is headquartered in San Mateo, CA and Columbus, Ohio, and currently operates in the United States. Upstart’s fiscal year ends on December 31st. Upstart is the leading artificial intelligence (AI) lending platform designed to improve access to affordable credit while reducing the risk and cost of lending to banking partners. By leveraging Upstart’s AI platform, Upstart-enabled banks can offer higher approval rates and lower loss rates * while providing the outstanding digital-first lending experience customers demand. Upstart was one of the first companies to apply AI to the multi-trillion dollar lending industry. Upstart goes beyond the FICO score and makes heavy use of non-traditional variables to achieve superior credit performance and improve consumer access to credit. Upstart’s model is much more accurate than the traditional lending model and can approve more applicants with a lower loss rate. The results of the credit access comparison show that the tested model approves 26% more borrowers than the traditional model and achieves a 10% lower APR with the approved loan. The company’s mission is to enable hassle-free lending based on true risk, as the reality of credit is important.

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