Upgrade

lendingonline loans

FOUNDING YEAR: 2016
LOCATION: United States
Last Update: 19/01/2021

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About

Upgrade aims to deliver frictionless mobile banking and exceptional value to consumers. Upgrade has already facilitated over $2.4 billion in consumer credit.

MEDICI Analysis

Upgrade is an online platform that offers unsecured personal loans and also provides borrowers with a series of tools to help them monitor their credit. The company provides loans from a range of $2K to $50K for a period of 36 to 60 months.

Focus

PRODUCTS & SERVICES

Online platform for personal loans.

MAIN CLIENTS

Retail Borrowers

COMMENT

The company claims that it has amassed more than 100,000 customers and also issued more than $1 billion loans to date. Recently the company has launched Personal Credit Line is designed to combine the low cost, fixed rate and monthly amortization of personal loans with the flexibility and utility of lines of credit typically obtained through credit cards. (Aug. 2018)

Traction

COMPANY TYPE:

For Profit

TRACTION COMMENT:

The company's platform has facilitated over $1 billion in originations of affordable consumer loans to date. (Aug. 2018)

People

FOUNDERS

Visar Nimani

Visar Nimani

Renaud Laplanche

Matt Wierman

Jeff Bogan

Soul Htite

NUMBER OF EMPLOYEES

201-500

INVESTORS:

Apoletto

Credit Ease

FirstMark

FirstMark Capital

Noah Holdings

Ribbit Capital

Sands Capital Ventures

Santander InnoVentures

Silicon Valley Bank

Union Square Ventures

Uprising and Vy Capital.

Vy Capital

Apoletto Managers

CreditEase Fintech Investment Fund

Uprising Ventures

Uncorrelated Ventures

Ventura Capital

KEY EMPLOYEES:

Renaud Laplanche(CEO); Jeff Bogan(CFO)

Adelina Grozdanova

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

4

TOTAL FUNDING

$202 M

DATE OF LAST FUNDING

Jun 2020

IPO STATUS

Private

TOTAL FUNDING COMMENT

The company is planning to use the funds for its product innovation such as its credit monitoring and education product. It enables them to continue investing in its product, credit analytics, compliance, risk management and for geographical expansion in San Francisco, Phoenix, Montreal, and Chicago. (Aug. 2018)

ESTIMETED REVENUE RANGE

$10M to $50M

FUNDING SERIES

SERIES A  · $60 M  · Mar 2017

SERIES B  · $40 M  · Feb 2018

SERIES C  · $62 M  · Aug 2018

SERIES D  · $40 M  · Jun 2020

LISTED

NO

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

667,270

AVERAGE VISITS (6 MONTHS)

646,314.11

MONTHLY VISITS GROWTH

8.53%

VISIT DURATION

199

VISIT DURATION GROWTH

32.38%

PAGE VIEWS VISIT

3.99

PAGE VIEWS VISIT GROWTH

5.15%

BOUNCE RATE

42.98%

BOUNCE RATE GROWTH

2.23%

GLOBAL TRAFFIC RANK

60,441

MONTHLY RANK CHANGE

-14,753

MONTHLY RANK GROWTH

-19.62%

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