Financial Technology Company Upgrade Raises $280 Million

Credit-focused fintech firm, Upgrade saw a sharp increase in its valuation recently after the company received approximately $280 million in funding. The Series F round valued Upgrade at $6 billion.

The $280 million funding round was led by Coatue Management and DST Global. According to the details shared by Upgrade, the company delivered nearly $10 billion in affordable credit to consumers through cards and loans since 2017.

In terms of overall funding, Upgrade has received a total of $600 million in equity capital since its inception. Upgrade aims to expand its operations through the recent funding.

"We are thrilled to partner with DST, Coatue and Dragoneer," said Renaud Laplanche, the Co-Founder and CEO of Upgrade. "This new round comes just four months after our Series E and demonstrates Upgrade's rapid growth and commitment to delivering innovative financial products that benefit consumers.”

Earlier this year, the fintech platform launched a Rewards Checking account to offer cash backs. In addition, the company introduced the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term 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.

Fintech Boom

Global fintech funding has jumped substantially in 2021 amid the acceptance of digital Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. One of the most important parts of the recent boom is credit & mobile banking. Upgrade outlined the popularity of credit banking and mentioned that the Upgrade Card promotes responsible credit by turning every balance into a fixed-rate installment plan, and by paying rewards to cardholders as they pay down their balance.

"Upgrade is an exciting example of a credit-led neobank," said Philippe Laffont, Founder, and CEO of Coatue Management. "Credit is a key component of banking and has been a major source of revenue for banks. We are excited by Upgrade's innovative credit products that we believe can help the company capture a significant share of the mobile banking market".