Summary
Insights
Updraft, a consumer lending platform based in London, shows significant potential with its innovative B2C SaaS model in the fintech and payments sector. By using technology to streamline and enhance the borrowing experience, Updraft positions itself as a modern alternative to traditional banks and credit card companies. Despite the challenges of a competitive landscape, including higher interest rates and less flexible terms compared to established institutions, Updraft benefits from investments by MoreThan Capital, Nueva Capital, and Quilam Capital. This strategic backing equips it to disrupt the market, attract tech-savvy borrowers, and meet the growing demand for convenient, digital-first financial solutions.
Total Funding
$476M
- 2023 Series D $344M
- 2022 Series A $9.7M
- 2022 Debt Financing $121M
- 2021 Unknown
- 2019 Seed $570k
- 2019 Pre Seed $120k
Investors
Quilam Capital Series D
MoreThan Capital Series D
Nueva Capital Series D