Senior Legal Counsel, Upstart
Capital Markets
$171.4-237.2k
+ Bonus + Equity + ESPP
More information about location
AI lending marketplace
Be an early applicant
AI lending marketplace
1001+ employees
Be an early applicant
$171.4-237.2k
+ Bonus + Equity + ESPP
More information about location
1001+ employees
Company mission
To enable effortless credit based on true risk.
Role
Who you are
- This role requires someone who is adaptable and can think outside of the box, while having a strong transactional and finance background (experience in private credit, debt finance, structured finance, securitizations, debt capital markets or structured lending strongly preferred)
- J.D. degree with solid academic credentials and a state bar membership (CA or NY preferred)
- 5+ years of experience with a minimum of 3 years at a top-tier law firm; experience in debt finance, investment funds, capital markets, private credit or structured finance
- Self-starter who thrives under limited direction and is excited by challenges
- Strong communication skills with a demonstrated ability to effectively and proactively provide quick, concise, and practical legal advice
- Eager to develop expertise in new or unfamiliar areas of law
- Adaptability: willingness to be flexible and excited to work in a dynamic and fast-paced environment
Desirable
- Experience with asset-backed securitizations, secured and unsecured lending
- Experience setting up joint ventures, co-investments or funds; experience negotiating against or working with large private equity/credit funds
- Strong law firm training and some in-house experience at a fintech company preferred
What the job involves
- Upstart’s legal team is a key component of the company, helping Upstart innovate in the fintech space across multiple products and supporting its mission of expanding access to credit based on true risk
- We are a team of savvy, hardworking and genuinely nice individuals collaborating closely with the business in achieving its objectives
- The capital markets legal team is seeking a Senior Legal Counsel, who is able to lead and negotiate complex capital markets transactions, as well as support the rest of the capital markets legal team in day-to-day matters as they arise (including on asset-backed securitizations, warehouse financings, investment funds, and investor services support)
- Lead and support legal negotiations on complex structured financing transactions
- Work closely with our capital markets and finance teams to structure novel deals with key investors in order to ensure capital commitments for Upstart
- Support other team members in structuring, drafting and negotiating securitizations and warehouse financing deals with sophisticated counterparties
- Provide legal and strategic guidance to assess and mitigate legal risk by building a deep understanding of the business and collaborating with internal clients, including accounting, data analytics, product, treasury, operations and tax
- Assist in general commercial transactions and agreements as needed
Our take
Business startups across the world usually seek out funding, but this is often difficult for companies led by millenials. Millennial entrepreneurs with an excellent track record in business are increasingly requiring access to these loans, but their lack of credit history results in proposals frequently being declined.
Upstart provides loans that are aimed towards the target audience of millennials with entrepreneurial intentions, offering low interest rates that average at 12%. The company claims these rates are 10% lower than traditional lenders, and the service aims towards ensuring that the client is subject to no further fees (such as prepayment penalties).
Upstart claims that its unique selling point lies in the fact that its loans are funded the day after approval. Whilst the service focuses on personal loans for business, the company has also expanded to offer loans for car refinancing. Over 2022 and 23, Upstart's stocks fell dramatically and an investigation was undertaken by a law firm representing the company's long-term investors over alleged security law violations by its board of directors. However, the end of 2023 saw a 20% stock value rise for Upstart after its partnership with Mutual Security Credit Union led to a rise in customers, indicating that it is on the up after a difficult two years.
Freddie
Company Specialist at Welcome to the Jungle
Insights
-16% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Apr 2019
$50m
SERIES D
Mar 2017
$32.5m
SERIES D
Total funding: $135.7m
Company benefits
- Comprehensive health plans
- 401k Plan
- Life insurance
- Disability insuranc
- Generous vacation policy
- Flexible time off
- Parental leave
- Technology equipment budget
- Personal development budget
- Various clubs and extracurricular activities
- Catered lunches
- Fully-stocked micro-kitchen
Company HQ
South San Mateo, San Mateo, CA
Leadership
David Girouard
(CEO)They started their career at Accenture and Booz Allen & Hamilton before working in Product Management at Apple and Virage. They left their role of 8 years as President of Enterprise at Google to found Upstart in March 2012.
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