Below you will find an interview with Dave Girouard CEO of upstart. At time stamp 33:38 he is asked if Upstart would be interested in to serving the emergency loan or payday loan market. Dave replies that he see it as and important opportunity and Upstart thinks they can contribute to eliminating payday loans. He calls them predatory and that they very interested in solving that problem.
I absolutely love the fact that a company that I am heavily invested in thinks its important to help lower the cost of capital and access to capital for those who need it most.
At timestamp 31:41 Dave is asked if Upstart would be interested in serving the mortgage market. He answers that due to the mortgage crisis of 10 years ago too many people are left out in the cold and we think we can help fix that.
I would not be surprised to see Upstart go after the mortgage market next.
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