Upstart Holdings, Inc. UPST shares are moving higher on Monday. Last week, the company announced that it has partnered with Arbor Financial Credit Union to provide personal loans to its members.
What To Know:
Shares of UPST are trading higher by over 12% on Monday, and the stock has gained more than 25% over the past five trading sessions.
Last Wednesday, Upstart announced that it has partnered with Arbor Financial Credit Union to provide its members with personal loans.
“We are excited to welcome Arbor Financial Credit Union to the family of Upstart lending partners,” said Michael Lock, SVP of Lending Partnerships for Upstart. “As part of the Upstart Referral Network, Arbor is able to attract new members and offer them its personal loans through an all-digital lending experience.”
Upstart is an AI lending marketplace that partners with banks and credit unions to expand access to affordable credit. Upstart provides a fully-digital, automated lending platform that allows for greater than two-thirds of its loans to be approved instantly.
Upstart will release its second quarter financial results on August 8 after the market close and will discuss the results during a conference call and webcast that day at 4:30 p.m. ET.
Related News: What’s Going On With Prestige Wealth (PWM) Stock?
UPST Price Action: According to Benzinga Pro, shares of Upstart are trading 11.1% higher at $51.69 at the time of publication.
Image: QuinceCreative from Pixabay
(C) 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsMoverswhy it’s moving
