Koch backs Upgrade in $105m series E

Aug 13, 2021 • gcv admin

Online credit banking service Upgrade has raised series E funding with the help of Koch Industries, reaching a valuation exceeding $3.3bn.

Koch Disruptive Technologies, an investment subsidiary of chemical and energy conglomerate Koch Industries, led a $105m series E round for US-based consumer credit provider Upgrade on Wednesday at a pre-money valuation above $3.3bn.

The round also included BRV Capital and Ventura Capital, which were advised by Julius Baer, while FT Partners was financial and strategic adviser to Upgrade.

Founded in 2017, Upgrade offers an online credit banking service that provides affordable credit through cards and personal loans, alongside free credit…

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