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Upgrade raises USD 280 mln in Series F

Wednesday 17 November 2021 14:40 CET | News

US-based Upgrade, a fintech that offers credit and mobile banking to mainstream consumers, has announced that it raised a USD 280 million Series F round at a USD 6 billion pre-money valuation.

The round was led by Coatue Management and DST Global. Dragoneer Investment Group and existing investors including Gopher Asset Management, G-Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital and Vy Capital also participated in the round.

Upgrade Card promotes responsible credit by turning the user’s balance into a fixed-rate instalment plan, and by paying rewards to cardholders as they pay down their balance. The company debuted a Rewards Checking account earlier in 2021 that offers 2% cash back debit card rewards to consumers on common everyday expenses.

It has also recently launched Upgrade Bitcoin Rewards Card, a credit card that pays rewards in Bitcoin rather than cash, allowing consumers to enjoy the potential upside of Bitcoin without putting their own money at risk upfront.

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Keywords: mobile banking, credit scoring, cashback, Bitcoin
Categories: Banking & Fintech
Companies:
Countries: United States
This article is part of category

Banking & Fintech