The online consumer credit provider completed a series D round led by Santander InnoVentures that was closed at a $1bn valuation.

Santander InnoVentures, the strategic investment subsidiary of financial services firm Santander, has led a $40m series D round for US-based consumer credit provider Upgrade.

Ribbit Capital, Silicon Valley Bank (SVB), Uncorrelated Ventures, Union Square Ventures (USV), Ventura Capital and Vy Capital also contributed to the round, which the company told TechCrunch valued it at about $1bn.

Upgrade operates an online credit banking service that provides affordable loans and credit cards which are amortised on a monthly basis.

The company has…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
Email LinkedIn