Lending Startup Upgrade Closes $ 105 Million Series E Round
Upgrade, the lending startup co-founded by former Lending Club CEO Renaud Laplanche, raised $ 105 million in a Series E funding round that takes the company’s valuation to $ 3.325 billion.
- The roundtable was led by Koch Disruptive Technologies with contributions from new and existing investors, including BRV and Ventura Capital advised by Julius Baer.
- In July, Upgrade launched its Bitcoin Rewards Card, a credit card that pays out rewards in bitcoin rather than cash.
- âWe created the Upgrade Bitcoin Rewards credit card for consumers who are either crypto enthusiasts or just starting out, and wanted a low-risk way to participate in the crypto economy,â said Laplanche, CEO of Upgrade, in a statement to CoinDesk.
- The Upgrade Card is the company’s flagship product and pays rewards to cardholders as they pay off their balance.
- “We have experienced unprecedented growth and profitability this year, and the additional capital will allow us to further establish the credit card as a mainstream credit card and continue to design innovative products that benefit consumers,” said Laplanche.
UPDATE (Aug 11 16:16 UTC): Add a quote from Laplanche.
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