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Upgrade Closes $105 Million Series E Round At $3.325 Billion Valuation

Aug 11, 2021•almost 4 years ago

Amount Raised

$105 Million

Round Type

series e

Description

Upgrade, Inc., a fintech company that offers affordable and responsible credit to mainstream consumers, today announced that it closed a $105 million Series E round at a $3.325 billion pre-money valuation led by Koch Disruptive Technologies (KDT) with participation from new and existing investors including BRV and Ventura Capital advised by Julius Baer.

Company Information

Company

Upgrade

About

Today, the company is announcing $280 million in new funding at a $6 billion pre-money valuation. In August, the company announced its Series E round — $105 million at a $3.325 billion valuation. The company offers 1.5% cash back on all purchases with its Cash Rewards card. The company has also launched checking accounts and debit cards for people looking for alternative to their existing bank account. Overall, the company has delivered $10 billion in credit to consumers through its credit cards and personal loans. But Upgrade’s growth has been accelerating as the company expects to deliver $8 billion in credit in 2021 alone.

Funding Insights

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech