5 years ago

Updraft Secures £16 Million to Tackle Consumer Borrowing

  • Updraft, a UK-based financial technology company, has raised £16 million in funding

  • The funding round was led by Quilam Capital and included participation from the UK Government's Future Fund and high-net-worth investors

  • Updraft's app aims to help consumers tackle escalating borrowing by providing a comprehensive view of their financial situation and offering personalized tools to improve their finances

  • The company has assembled a strong founding team and board of advisors with experience in financial services, technology, and data science.

      • ProblemFinancial Services

      "Consumers are struggling with high-interest debt from credit cards, overdrafts, and buy now pay later schemes."

      Solution

      "Updraft offers a mobile app that uses open banking and credit report data to provide a comprehensive view of a user's finances, identify expensive debt, and offer lower-cost loans to consolidate debt."

      Covered on