London FinTech Upstart raises £108mn to grow lending business
In brief:
-Upstart to ramp up expansion plans after completing a £108mn debt and equity raise to scale up operations
-The senior debt funding round of £100mn was led by NatWest to help create a £160m senior debt facility for the business
-An £8mn equity fundraise was led by Auluk Investment and New Delhi-based LC Nueva.
What does this mean?
Upstart will use the funding to recruit more staff, grow the number of customers it lends to and is eyeing international expansion to markets in Europe and Asia.
