“We were impressed with the Upstart team’s execution in 2014, and their results give us confidence that this emerging platform is serving a critical market need,” said Tom Welch, principal at VPC. “Upstart’s ability to identify prime borrowers years before other lenders is fundamentally disruptive, and the team has shown that they know how to execute on the opportunity.” Upstart is committed to providing fairly priced loans to quality borrowers who aren’t well-served by traditional lenders. In the 11 months since inception, more than 5,000 loans totaling $70 million have originated on Upstart, including more than $14 million in March alone. Dave Girouard, founder and CEO of Upstart, added, “We’re thrilled to expand our partnership with a firm that brings us not just capital but a wealth of knowledge and experience."

http://www.marketwatch.com/story/victory-park-capital-increases-its-investment-in-upstart-consumer-loans-to-500-million-2015-04-06