21 December 2023

UK neolender Updraft secures £272mn in mix of debt and equity funding

Written By FinTech Alliance in Business Financial Management

UK neolender Updraft secures £272mn in mix of debt and equity funding

UK neolender Updraft is ending the year on a high having raised £272 mn

In brief:

- Founded in 2017 and based in London, Updraft offers a mobile app featuring lending, credit reporting and financial management services. 

- It combines open banking and behavioural data in an attempt to improve credit risk underwriting and lower the cost of credit.

- The round comprises a £250 mn forward flow arrangement with Santander and Jefferies Financial Group, while Quilam Capital, MoreThan Capital, LC Nueva AIF and Auluk Investments led a £22 mn mezzanine and equity investment.

Read more here.

Up Next ...
22 November 2024

Eden AI raises €3M seed round to bridge the gap between AI models and business needs

Eden AI, which works with more than 500 organisations including the Council of Europe and Atos, translates sophisticated AI models into practical tools for businesses...

22 November 2024

City Bank Adopts TranzAxis for E-Commerce Payment Solutions

This decision aligns with the bank’s focus on digital transformation and improving online transaction processes for merchants.

22 November 2024

Zellis summit maps bold future of innovation

Event showcases Zellis HCM AIR, realtime payroll, and AI-enhanced features

21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

More in Business Financial Management

Uber for Business integrates with expense management providers Brex and Ramp

21 December 2023

Uber’s enterprise arm, announced it has integrated with leading expense ...

$4.7bn European fintech firm Pleo appoints new CFO, pointing to IPO hopes

14 December 2023

Danish FinTech firm Pleo beefing up its executive team.In brief:- ...

Sonovate secures £165mn

07 July 2022

UK FinTech Sonovate has raised £165mn in funding.In Brief: Sonovate offers ...

Pleo raises $200mn, reaches $4.7bn valuation 

09 December 2021

Danish FinTech Pleo has raised $200mn as an extension to ...

White Papers Business Financial Management

How has Covid changed the role of the finance director forever?

13 April 2021

What you will learn:How the role of the FD has changedThe shift to home working Empowering your...

There are no Events in this category