{"id":144905,"date":"2021-11-17T11:49:03","date_gmt":"2021-11-17T11:49:03","guid":{"rendered":"https:\/\/precoinnews.com\/?p=144905"},"modified":"2021-11-17T11:49:03","modified_gmt":"2021-11-17T11:49:03","slug":"financial-technology-company-upgrade-raises-280-million","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/financial-technology-company-upgrade-raises-280-million\/","title":{"rendered":"Financial Technology Company Upgrade Raises $280 Million"},"content":{"rendered":"<p>Credit-focused fintech firm, Upgrade saw a sharp increase in its valuation recently after the company received approximately $280 million in funding. The Series F round valued Upgrade at $6 billion.<\/p>\n<p>The $280 million funding round was led by Coatue Management and DST Global. According to the details shared by Upgrade, the company delivered nearly $10 billion in affordable credit to consumers through cards and loans since 2017.<\/p>\n<p>In terms of overall funding, Upgrade has received a total of $600 million in equity capital since its inception. Upgrade aims to expand its operations through the recent funding.<\/p>\n<p>&#8220;We are thrilled to partner with DST, Coatue and Dragoneer,&#8221; said Renaud Laplanche, the Co-Founder and CEO of Upgrade. &#8220;This new round comes just four months after our Series E and demonstrates Upgrade&#8217;s rapid growth and commitment to delivering innovative financial products that benefit consumers.\u201d<\/p>\n<p>Earlier this year, the fintech platform launched a Rewards Checking account to offer cash backs. In addition, the company introduced the Bitcoin Rewards Card, a credit card that pays rewards in bitcoin rather than cash, allowing consumers to enjoy the potential upside of bitcoin without putting their own money at risk upfront.<\/p>\n<h2>Fintech Boom<\/h2>\n<p>Global fintech funding has jumped substantially in 2021 amid the acceptance of digital payments. One of the most important parts of the recent boom is credit &amp; mobile banking. Upgrade outlined the popularity of credit banking and mentioned that the Upgrade Card promotes responsible credit by turning every balance into a fixed-rate installment plan, and by paying rewards to cardholders as they pay down their balance.<\/p>\n<p>&#8220;Upgrade is an exciting example of a credit-led neobank,&#8221; said Philippe Laffont, Founder, and CEO of Coatue Management. &#8220;Credit is a key component of banking and has been a major source of revenue for banks. We are excited by Upgrade&#8217;s innovative credit products that we believe can help the company capture a significant share of the mobile banking market&#8221;.<\/p>\n<p>Source: <a href=\"https:\/\/www.financemagnates.com\/fintech\/news\/financial-technology-company-upgrade-raises-280-million\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit-focused fintech firm, Upgrade saw a sharp<\/p>\n","protected":false},"author":3,"featured_media":144904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial Technology Company Upgrade Raises $280 Million - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/financial-technology-company-upgrade-raises-280-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Technology Company Upgrade Raises $280 Million - 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