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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!
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.
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.
The company generates revenue through interest on the loan amount.
Lendup is committed to helping unbanked Americans find a suitable loan and become creditworthy through education.
VALUATION / MARKET CAP:
$593.33 M in 2016
BOARD MEMBERS AND ADVISORS
NUMBER OF EMPLOYEES
Sasha Orloff (CEO)
Jacob Rosenberg (CTO)
DATE OF LAST FUNDING
SEED CLOSED ON
SERIES A · $14 M · Nov 2013
SERIES B · $50 M · Jan 2016
SERIES C · $47.5 M · Aug 2016
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