Upstart appoints co-founder Paul Gu as CEO effective May 1, succeeding Dave Girouard, who will remain as executive chair. The company returned to profitability in 2025 with $1 billion in revenue, up 64% from 2024. Leadership changes include CFO Sanjay Datta as president and chief capital officer, and new CFO Andrea Blankmeyer.

Gu, a Thiel Fellow, co-founded Upstart in 2012 with Girouard and Anna Counselman. The fintech reported $18.6 million in profit for Q4 2025, a significant increase from a $2.8 million loss in the same period the year before. Revenue also rose by 35% to $296 million, but stock prices declined by 19.5%.

Market concerns arise over Upstart’s shift towards secured loans like auto and home equity lines of credit, which offer lower profit margins. Despite this, Gu remains optimistic about the company’s future and its potential impact on the credit industry. Upstart was an early player in AI-powered credit and received a no-action letter from the CFPB.

Upstart’s agreement with the CFPB ended in 2022, with the agency shifting focus to broader innovation strategies. The fintech was later subpoenaed by the SEC in late 2023 over its disclosures related to AI lending models. The leadership changes and financial performance are part of Upstart’s ongoing evolution in the fintech industry.

Read more at Yahoo Finance: Upstart makes CEO switch