Lending Startup Upgrade Closes $105M Series E Round

Lending Startup Upgrade Closes $105M Series E Round

Upgrade, the lending startup co-founded by the former CEO of Lending Club, Renaud Laplanche, has raised $105 million in a Series E funding round that takes the firm’s valuation to $3.325 billion

  • The funding round was led by Koch Disruptive Technologies with contributions from new and existing investors including BRV and Ventura Capital advised by Julius Baer.
  • In July, Upgrade launched its Bitcoin Rewards Card, a credit card that pays rewards in bitcoin rather than cash.
  • The Upgrade card is the company's flagship product and pays rewards to cardholders as they pay down their balance.
  • "We have experienced unprecedented growth and profitability this year, and the additional capital will enable us to further establish Upgrade Card as a mainstream credit card and continue designing innovative products that benefit consumers," said Laplanche, the CEO of Upgrade.
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