Investment firm Quilam Capital is leading the debt investment and another chunk is coming in the form of a convertible loan from the government-backed Future Fund as well as other high-net-worth investors.
Using Open Banking and credit report data, Updraft creates a general view of a customer’s spending and borrowing and provides a series of interventions to get them back on track. According to the fintech, the average Updraft customer has been able to reduce their borrowing charges by up to 50%.
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