They claim there are millions of potential borrowers that are creditworthy, but not by traditional FICO scores, and other bank metrics. Moser: [laughs] Money makes people do a lot of things. They are connectors, they connect banks with customers that they otherwise wouldn't connect with. [laughs] It helps businesses process checks and things like that. It has a limited amount, and you can't make anymore. ... Sofi. You said all due respect, man. They were founded by former Google [Alphabet] people, if that helps. You could make more bitcoin. I am your host, Jason Moser, and on this week's financial show, we're going to dig a little bit more into a brand new IPO out there in Upstart Holdings. It seems like there isn’t anything you can’t get at SoFi. Upstart gets referral fees. Much of that growth, rising from 10 million at the start of 2020, has been fueled by the coronavirus pandemic as millennials have increasingly seen opportunity in the beaten-down stock market. But is this demographic really a force in the markets? They're targeting the overlooked consumers by traditional banks. Moser: Well, that sounds very good, Matt. You gave it the old Ricky Bobby. Frankel: So far, to my knowledge, Upstart has no desire to become a bank. To put it another way, if an existing shareholder wants to sell some of their shares, they … | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more. They use their algorithms to find creditworthy borrowers that the system has overworked, and partners with banks who make the actual loans, and Upstart gets a referral fee for its services. That's something they have to upkeep, obviously, that comes with responsibilities, and regulations, and ratios, and requirements. I don't want to store a value that can fluctuate by 20% in a day. Click HERE to find out ⭐ Pre-IPO Shares of Impossible Foods Available at Manhattan Street Capital. That seems to be the case. Virgin Galactic was another one. I'm going to stick with that as my one to watch because they report their earnings on Friday, which is the first day of bank earnings. So far, like you said, 75% reduction in loss ratios, it looks like it's working so far so that [laughs] technology is really that good. Let's go ahead and start through with Upstart. I'd call it the mid-level credit, like the people with fair credit that all the other companies are overlooking, and they tried to do that area of the market better than everyone else. Matthew Frankel: Pretty good, as you can see by the background, it's another day in paradise. Moser: Yeah, it can be, and certainly it does seem like this is another business with, I don't want to say founders leading the way is necessarily competitive advantage, but it's certainly a sign that leadership is in the same boat as investors. Regardless of your opinions of bitcoin, this volatility first makes me tell you to be careful. Upstart's not a bank itself like a lot of these fintechs. At the present moment, it is possible to invest in SoFi for as little as $25,000 if you are accredited. I mentioned Upstart's trading at about 20 times revenue, so far it's trading at about eight times revenue and that's including about $2.4 billion in cash. Matt, how's everything going? SoFi has a reputation of staying hip with the millenials offering services like student loans, fractional share ownership, mortgages, and Crypto. The SharesPost marketplace makes it easy to research private growth companies and transact in their shares and tokens. SoFi, including $2.4 billion of new capital, is about $8.65 billion. Some stimulus ran out in the fourth quarter. A lot of other lenders, SoFi, which we're about to talk about in a few minutes, follows a non-traditional lending model, but also wants to pursue generally high credit borrowers. That's why we're seeing this giant wave of SPAC IPOs. If you can make your own loans and not go through an intermediary, that's one less person you have to pay, so it can save money. That's what it boils down to, is I just don't care. Let's start just from the 50,000 foot view here. EquityZen is a marketplace for shares of proven pre IPO tech companies. It made sense. The things I'm watching are the default rate. I know money is not the biggest motivating factor for everybody, but you got to think it's there. I understand the utility of it. That doesn't sound like too outrageous of a valuation with 1.8 million members, this proprietary digital payments platform that's been very successful that they acquired, they're expecting about $1 billion dollars of revenue this year alone. Right around $32,800, right before we started recording this. Now that companies like Palantir, Airbnb, and many others have filed for IPO; investors are looking further down the line at companies like SoFi that may eye an IPO at some point in the near future. 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