4 years ago
Updraft Secures £72M to Fuel UK Expansion and Lend £200M in 2022
London-based fintech Updraft has raised £72 million in a funding round led by NatWest and Quilam Capital
The company plans to use the funds to expand its financial wellness app and lend £200 million to UK consumers in 2022
Updraft's app helps users understand their spending habits and make better financial decisions.
ProblemFinancial Services
"Many UK consumers are stuck in a cycle of high-interest debt from credit cards, overdrafts, and buy-now pay later products, making it difficult to achieve financial freedom."
Solution
"Updraft provides a financial wellness app that helps users understand their financial profile, build positive spending habits, and reduce expensive borrowing. The app uses Open Banking technology to provide a comprehensive view of a user's finances and leverages behavior science and machine learning to deliver personalized advice and support."
