San Carlos, California-based Upstart, a lending platform for millennials, has raised $32.5 million in funding, according to a blog post on its site. Rakuten and an unidentified U.S. asset manager led the round. Return backers Third Point Ventures, Khosla Ventures and First Round Capital also participated in the round. In conjunction with the funding. Oskar Mielczarek de la Miel, managing partner at the Rakuten’s fintech fund, has been added to Upstart’s board of directors. And, Sanjay Data, former vice president of global advertising finance at Google, has been hired as chief financial officer.