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.
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Lendup is committed to helping unbanked Americans find a suitable loan and become creditworthy through education.
Sasha Orloff, Jacob Rosenberg
Board Members and Advisors:
Blake Byers, Carrie Dolan
NUMBER OF EMPLOYEES:
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