Upstart Holdings Inc. signed a multi-year forward-flow agreement with investment firm Castlelake, L.P.
Castlelake-managed funds will purchase up to $4 billion in consumer loans originated on Upstart’s AI-powered platform.
The arrangement spans up to 24 months and marks the largest funding program between the two firms to date.
This commitment expands a partnership that originally began in 2023.
Upstart classified the deal as one of its most significant institutional funding milestones.
Castlelake cited the performance and durability of Upstart’s consumer installment loans as the primary driver for the investment.