Upstart Holdings Inc. (NASDAQ: UPST) announced that funds managed by affiliates of Fortress Investment Group have committed to purchase up to $1.25 billion of consumer loans originated through the Upstart platform over 15 months.

The agreement represents an expansion of an existing partnership between the companies that began with an initial forward flow transaction announced in 2025.

Under the forward-flow commitment, Fortress will purchase consumer loans originated by Upstart's AI lending marketplace, which connects consumers to more than 100 banks and credit unions. Upstart's platform processes over 90% of loans through full automation without human intervention.

"We're excited to expand our partnership with Fortress with this latest agreement," said Sanjay Datta, President, Capital & Enterprise at Upstart. "Our wide array of capital partners strengthens our resilient and stable foundation to continue driving down the cost and complexity of borrowing."

Matt Biczak, Managing Director at Fortress Investment Group, said the expanded agreement reflects the firm's focus on sourcing consumer credit opportunities. "Upstart's data-driven platform enables efficient access to scaled origination, and we believe this partnership positions us well to continue generating durable, compelling risk-adjusted returns across market environments," Biczak stated.

Fortress Investment Group manages $54 billion in assets under management as of September 30, 2025, serving approximately 2,000 institutional clients and private investors worldwide across credit, real estate, private equity and permanent capital investment strategies.

Upstart's platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and a revolving line of credit product called Cash Line. The San Mateo, California-based company was founded in 2012.