2 years ago

Updraft Secures £272 Million in Debt and Equity Funding

  • Updraft, a UK-based fintech company offering consumer lending and financial planning services, has secured £272 million in a joint debt and equity round

  • The funding includes a £250 million debt agreement with Jeffries and Santander Corporate and Investment Banking, as well as a £22 million mezzanine and equity investment from Quilam Capital, MoreThan Capital, LC Nueva AIF, and Auluk Investments

  • This latest round follows a £108 million funding round in December 2022 and a £72 million raise in 2021

  • Updraft aims to use the funds to expand its lending capabilities and continue building its products and services.

      • ProblemFinancial Services

      "Many people struggle to manage their finances effectively, leading to high-interest debt and poor savings habits."

      Solution

      "Updraft provides a platform that uses open banking to analyze customer credit data and offer personalized financial advice, including lower-cost lending options and tools to improve spending and savings habits."

      Covered on