AI lending platform Upstart Holdings, Inc. (UPST) on Wednesday said that it has signed a $4 billion forward-flow agreement with investment firm Castlelake, L.P. to sell consumer loans originated through its platform.
Under the multi-year deal, funds managed by Castlelake have committed to buy up to $4 billion of consumer loans over the next 24 months. It is the largest forward-flow arrangement between the two companies to date, Upstart said.
Castlelake has purchased loans from Upstart since 2023. The firm, which focuses on asset-based private credit, said it has invested about $29 billion since 2015 in consumer and small-business loan originators.
On the Nasdaq, shares of Upstart are currently losing 1.30 percent, changing hands at $27.46.
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