LendUp

LendUp

  • FOUNDING YEAR: 2011
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    27 Dec, 2019
    Global presence:
    United States

Description

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:
Viewable by subscribers only
MAIN CLIENTS:
Retail customers
COMMENT
Lendup is committed to helping unbanked Americans find a suitable loan and become creditworthy through education.

PEOPLE

FOUNDERS:
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, Founders' Co-op, Garry Tan, GV, Justin Mateen, Kapor Capital, Kleiner Perkins Caufield & Byers, QED Investors, Soma Capital, Start Fund, Susa Ventures, Thomvest Ventures, Victory Park Capital, Y Combinator, Eagle Cliff Partners, SV Angel, Victory Park Capital
KEY EMPLOYEES:
Sasha Orloff (CEO), Jacob Rosenberg (CTO)

TRACTION

VALUATION / MARKET CAP:
$593.33 MM in 2016

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$111.5 Millions
DATE OF LAST FUNDING:
Jun 2017
SEED CLOSED ON:
Oct 2012
FUNDING SERIES:
SERIES A
$14 Million Closed: Nov 2013
SERIES B
$50 Millions Closed: Jan 2016
SERIES C
$47.5 Millions Closed: Aug 2016
DEBT FUNDING:
$250 Millions
LISTED:
NO

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