Fintech lender Upgrade secures $165 million in Series G funding, lifting its valuation to about $7.3 billion and paving the way for product expansion and distribution scaling.
Highlights
Upgrade has raised $165 million in a Series G round, led by Neuberger Berman and joined by investors such as LuminArx Capital, DST Global and Ribbit Capital.
The funding round values the company at around $7.3 billion, demonstrating continued investor confidence in its multi-product approach.
Upgrade plans to use the fresh capital to expand its product suite and distribution channels, particularly targeting mainstream credit and banking services for consumers.
Summary
Consumer fintech company Upgrade has announced a $165 million Series G funding round, boosting its valuation to approximately $7.3 billion. Founded in 2017 and led by CEO Renaud Laplanche, Upgrade provides a blended offer of mobile banking, credit cards, personal loans, home-improvement financing and buy-now-pay-later services.
The company says the new equity will be deployed to enhance its product mix, deepen its distribution partnerships and scale its operations toward a broader consumer base. The funding emphasizes Upgrade’s positioning in the competitive fintech sector as it continues to grow its credit portfolio while maintaining diversified revenue streams.
