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Capital One Co-Founder Is Making a Bet on Risky Borrowers

  • Nigel Morris joins board, boosts investment in Orloff’s LendUp
  • Venture targets customers living life ‘always in a recession’
Nigel Morris

Nigel Morris

Photographer: Michael Nagle/Bloomberg

The co-founder of Capital One Financial Corp. is betting now’s a good time to lend to the riskiest borrowers.

Nigel Morris, Richard Fairbank’s partner in creating the company that became Capital One, is joining the board of LendUp Global Inc. and boosting his investment in the firm, which uses machine learning to look beyond traditional credit scores in the subprime market.