The funding round was led by NatWest, who provided Updraft’s inaugural senior debt facility, with the fintech also extending its existing debt facility with specialist investment firm, Quilam Capital. This builds on an initial GBP 16 million raise that was announced in late 2020.
The capital raised will support Updraft in its mission to reduce high-interest borrowings for UK consumers by helping its members avoid sticky credit card debt and the ever rising buy now, pay later burden.
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