Director of Capital Markets, Upgrade
Auto
+ Stock option plan
Offering responsible credit to mainstream consumers
Be an early applicant
Offering responsible credit to mainstream consumers
1001+ employees
Be an early applicant
+ Stock option plan
1001+ employees
Company mission
To help our customers move in the right direction with responsible financial products that put more money in their pocket.
Role
Who you are
- 7+ years of experience in Auto Capital Markets, Structured Finance, or Fintech
- Proven track record in whole loan sales, warehouse financing, securitization, and forward flow execution
- Strong understanding of secured assets and structured finance markets
- Excellent negotiation and relationship management skills with internal and external stakeholders
- Ability to lead multiple complex workstreams in a fast-paced, execution-driven environment
What the job involves
- We are looking for new team members who get excited about designing and delivering new and better products to join a team of 1850 talented and dedicated professionals
- Upgrade is seeking a Director of Auto Capital Markets to lead the development, execution, and scaling of the capital markets infrastructure for our rapidly growing Indirect Auto lending business
- Reporting directly to the SVP, Head of Capital Markets, this is a high impact role that will lead the launch of Upgrade’s Auto ABS securitization program, optimize warehouse financing across multiple facilities, and build long-term forward flow partnerships
- The Director will work directly with internal and external stakeholders to establish a diversified capital strategy in a fast-paced, execution-oriented environment
- Design, launch, and lead Upgrade’s inaugural Auto ABS securitization program, partnering directly with banks, rating agencies, and external counsel
- Strategically manage and optimize multiple Auto warehouse facilities, including draw decisions and operational oversight
- Forecast financing needs and execution strategy across ABS transactions, forward flow partnerships, and warehouse solutions
- Build and expand forward flow programs by onboarding and managing relationships with institutional investors purchasing whole loans
- Negotiate and manage all legal documentation across Auto capital markets transactions, including securitization memoranda, warehouse credit agreements, and forward flow purchase agreements
- Monitor internal credit performance and track market developments including ABS trends, investor demand, and macroeconomic factors
- Support broader Capital Markets strategy across other Upgrade verticals (e.g., personal loans, BNPL, home improvement) as needed
Our take
Most credit cards don't encourage the owner to pay down their debt. The longer it takes to pay off the balance, the more money lenders are set to make. Upgrade is an online lender and card issuer doing things differently. The company offers personal loans and credit cards but with a fixed instalment structure and a set number of equal payments. This ensures the balance reduces every month.
The company believes this model reduces default rates, as borrowers are forced to pay down rather than maintain their debt, and it encourages a greater commitment to repay the balance. Further, by combining the ease of a Visa card with the fixed payments and decreased rates of a personal loan, Upgrade sets itself apart from competitors.
In 2021, Upgrade launched its mobile banking and debit card as a strategy to onboard new customers and increase loyalty. The fixed-rate nature of the company's cards is expected to be of use to customers in future years in an environment of rising rates. Upgrade also plans to expand beyond the U.S. in the future, which will represent new challenges for the business as it adapts to alternative regulations.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
18% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Nov 2021
$280m
SERIES F
Aug 2021
$105m
SERIES E
Total funding: $547m
Company benefits
- Stock option plan
- 100% paid coverage of medical, dental and vision insurance
- Flexible PTO
- Opportunities for professional growth and development
- Paid parental leave
- Health & wellness initiatives
Company HQ
Financial District, San Francisco, CA
Leadership
Renaud Laplanche
(Co-Founder & CEO)After an MBA at London Business School, Renaud spent 5 years as an Associate at Clearly Gottlieb Steen & Hamilton and co-founded MatchPoint. They then left Oracle after a year to co-found Lending Club in 2006 and co-founded Upgrade in August 2016.
Adelina Grozdanova
(Co-Founder & Head of Investor Group)Adelina started their career with 6 years at Morgan Stanley after a degree at Princeton. They left banking in 2012 to join Lending Club as VP, and after 3 years co-founded Upgrade, serving as Head of Investor Group since 2016.
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