LendUp

lendingp2p lending

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 17/07/2020

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About

Could a fintech company be built that helps people today, and prepares them for tomorrow? One that offers consumers high quality, mobile-first credit and savings products and protects them from tricks and traps? Thats LendUp. LendUp's mission is to provide anyone with a better path to financial health. We are a data-driven company and build all of our technology in-house. With a firm belief that you're more than your credit score, we're extending credit as aggressively as possible and helping solve for the income volatility and financial instability that affects more than 140 million Americans. We are backed by more than $325 million in debt and equity financing from investors such as GV, PayPal, Y Combinator, QED Investors, Susa Ventures, Data Collective, Thomvest Ventures, Kleiner Perkins, Kapor Capital, Bronze Investments, radicle impact, Victory Park Capital, Reddit co-founder Alexis Ohanian, Gmail founder Paul Buchheit, Troy Carter, and many others.One of our values is "different backgrounds, same mission." We come from venerable Silicon Valley technology companies, major banks, nonprofits and law firms. We're former consumer advocates, regulators and academics. Together, we're bringing our mission to life. Join us!

MEDICI Analysis

LendUp is an online direct lender that provides small-dollar-amount, short-term, and unsecured loans to users. LendUp has developed lending solutions that are a direct alternative to payday loans. It offers loans, credit cards, financial education, and means to create/improve credit score to customers.

Focus

PRODUCTS & SERVICES

LendUp has developed the LendUp Ladder, a solution that allows customers to lower their rates over time. It enables customers to apply for larger loans at lower rates once they have repaid their loans on time. Once a customer has reached the top half of the Ladder, he/she receive an option of their payments to the credit bureaus. Upon the successful repayment of loans, users then become eligible for credit cards and can apply for the same through the platform. Unlike payday loans, they are no extra charges for customers that need more time to repay a loan.

REVENUE MODEL

The company generates revenue through interest on the loan amount.

MAIN CLIENTS

Retail customers

COMMENT

Lendup is committed to helping unbanked Americans find a suitable loan and become creditworthy through education.

Traction

VALUATION / MARKET CAP:

$593.33 M in 2016

People

FOUNDERS

Jacob Rosenberg

Sasha Orloff

Jacob Rosenberg

BOARD MEMBERS AND ADVISORS

Blake Byers

Carrie Dolan

NUMBER OF EMPLOYEES

51-200

INVESTORS:

AFSquare

Alexis Ohanian

Andreessen Horowitz

Bronze Investments

Data Collective

Data Collective DCVC

Eagle Cliff Partners

Founders' Co-op

Garry Tan

GV

Justin Mateen

Kapor Capital

Kleiner Perkins

Kleiner Perkins Caufield & Byers

QED Investors

Soma Capital

Start Fund

Susa Ventures

SV Angel

Thomvest Ventures

Victory Park Capital

Y Combinator

KEY EMPLOYEES:

Sasha Orloff (CEO)

Jacob Rosenberg (CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$111.5 M

DATE OF LAST FUNDING

Jun 2017

SEED CLOSED ON

Apr 2012

FUNDING SERIES

SERIES A  · $14 M  · Nov 2013

SERIES B  · $50 M  · Jan 2016

SERIES C  · $47.5 M  · Aug 2016

DEBT FUNDING

$100 M

LISTED

NO

Innovation Programs

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