LendUp

lendingp2p lending

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 10/07/2020

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About

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

BASICS

FOUNDING YEAR:

2011

LOCATION:

United States

Views:

596 VISITORS | 2095 VIEWS
LATEST FUNDING ROUND

$112 M

TOTAL EMPLOYEES
51-200

About

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.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Innovation Programs

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