Upgrade Acquires Uplift For $100 Million In Cash And Stock
07/27/23, 10:02 AM
Location
united statesIndustry
lending and investments
financial services
other
software
travel
Upgrade, Inc., a fintech company that offers affordable and responsible credit, mobile banking and payment products to mainstream consumers, today announced the acquisition of Uplift, Inc., the leading provider of Buy Now Pay Later (BNPL) payment and credit products to travelers. Uplift has seen exceptional growth over the last few years, now serving 3.3 million customers in partnership with over 300 of the largest airlines, cruise lines and hotel chains in the United States and Canada.
Company Info
Location
United States
Company info
Today, the company is announcing $280 million in new funding at a $6 billion pre-money valuation. In August, the company announced its Series E round — $105 million at a $3.325 billion valuation. The company offers 1.5% cash back on all purchases with its Cash Rewards card. The company has also launched checking accounts and debit cards for people looking for alternative to their existing bank account. Overall, the company has delivered $10 billion in credit to consumers through its credit cards and personal loans. But Upgrade’s growth has been accelerating as the company expects to deliver $8 billion in credit in 2021 alone.