Upstart Holdings announced last week that it landed a forward-flow commitment from funds managed by Wafra, a New York-based global alternative investment manager focused on strategic partnerships, real estate and real assets.

According to a news release, Wafra has agreed to purchase up to $200 million of assets originated through the Upstart auto finance platform.

“We are pleased to partner with Upstart on its inaugural auto finance forward-flow program,” Wafra managing director Paul Steinberger said in the news release. “This partnership exemplifies how we work with leaders in the asset-based finance ecosystem on strategies to deliver credit exposures that offer compelling risk-reward opportunities for our investors.”

The agreement consists of a 12-month forward flow arrangement and is the first such agreement between Upstart and Wafra.

Upstart explained the arrangement supports its ability to deliver a consistent auto funding platform across its growing auto product vertical business and over a variety of economic environments.

“We are delighted over the opportunity to establish a strong partnership with Wafra in this agreement, which demonstrates significant market interest in Upstart’s maturing auto platform,” Upstart president and chief capital officer Sanjay Datta said.

“Wafra’s investment will help Upstart to continue our goal of pursuing the best rates and best process to help borrowers with their auto financing needs,” Datta added.