Open Lending
- 🦄Became a unicorn2020
- 📈Peak valuation$3 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation estimate~$600M
The rise & fall
6 moments · 2000–2026The key moments.
How it happened
Open Lending runs Lenders Protection, an analytics and insurance platform that helps banks and credit unions underwrite near- and non-prime auto loans, and went public in June 2020 via a SPAC merger with Nebula Acquisition Corp at about a $1.08B enterprise value.
Its stock soared in the 2021 boom, lifting its market value to roughly $3B, before rising rates, falling used-car prices and shrinking certified-loan volumes battered the business. The shares fell about 80%, leaving Open Lending worth around $600M — back below $1B.
Glassdoor reviews were mostly positive, though a few flagged a male-skewed culture; overall ratings stayed high.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: FT Partners / GlobeNewswire / Investing.com ($1.08B SPAC EV via Nebula Acquisition Corp, June 2020; peaked ~$3B market cap in 2021; ~$613M market cap by 2026 amid declining certified loan volumes)
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
Disclosed investors (1)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard
