Sorry about the last post. Still trying to figure out how formatting works on this board.
Upstarts 10K states:
A significant number of consumers that apply for a loan on Upstart.com learn about and access Upstart.com through the website of a loan aggregator, Credit Karma. The percentage of loan originations that were derived from traffic from Credit Karma was 38%, 38% and 52% in 2018, 2019 and 2020.
It looks like the number of customers that get a loan from Upstart actually originate from Credit Karma. The percentages have been increasing the last few years and is actually over 50% for 2020. I could be misinterpreting this but it looks like Credit Karma may be more of a customer concentration risk that we realize.
SMC