3 years ago

Updraft Secures £108 Million to Promote Financial Wellness Through Open Banking

  • UK-based open banking app Updraft has raised £108 million in a Series A funding round, comprising £100 million in debt financing led by NatWest and Hampshire Trust Bank, and £8 million in equity investment from LC Nueva, Auluk Investments, and Faber Capital

  • The funds will be used to further develop the platform and expand its reach, aiming to help more people achieve financial freedom.

      • ProblemFinancial Services

      "Many people struggle to manage their finances and access affordable credit."

      Solution

      "Updraft provides a mobile app that uses open banking to connect to customers' bank accounts and offer fair loans at a lower cost to their credit. The app also provides information and tools to help customers improve their financial habits."

      Covered on