Overview of Transaction

• On July 12, 2015, Upstart ("the Company") announced a $35 mm Series C financing round led by Third Point Ventures, the ventures arm of Third Point LLC, which targets investment partnerships with emerging enterprise technology, healthcare, and FinTech companies with strong leadership teams
• Existing investors Khosla Ventures, First Round Capital and Collaborative Fund also participated in the round
• Upstart is an online lending platform that goes beyond the FICO score to finance consumers based on signals of their potential, including schools attended, area of study, academic performance, and work history
• The Company's proprietary underwriting model identifies high quality borrowers despite limited credit and employment experience

Significance of Transaction

• Upstart will use the new capital for ongoing innovation and development of the lending platform, with a specific emphasis on expanding engineering talent and further deepening the Company's data science capabilities
• Upstart is one of the fastest-growing alternative lending platforms in the student refi market today

FT Partners' Role

• FT Partners served as exclusive strategic and financial advisor to Upstart and its Board of Directors
• The transaction demonstrates FT Partners' continued success in executing growth equity focused transactions and advising top-tier alternative lenders