Updraft

About

Updraft is a lending, credit report, and financial planning app for millennials.

London,England,United Kingdom
11 - 50
https://www.updraft.com

Highlights

Details

Last Funding Type: Series A
Last Funding Money Raised: £8M
Industries: Banking,Financial Services,FinTech
Founded date: Jan 1, 2017
Number Of Employee: 11 - 50
Operating Status: Active
Legal Name: Fairscore Ltd

Updraft is a part lending, part credit report, and part financial planning app for millennials. Available on iPhone, Updraft turns borrowers into savers by automating the day to day decisions involved in managing money and mainstream borrowings. Through innovation in lending product design, behavioral science, and data science to help users with their finances.

Funding Rounds

Number of Funding Rounds

Total Funding Amount

9

£197.30M

Updraft has raised a total of £197.30M in funding over 2 rounds. Their latest funding was raised on Dec 16, 2022 from a Series A round.

Announced Date	Round	Money Raised	Number of Investors	Lead Investors	Post Valuation
Dec 16, 2022	Series A	£8M	5	Auluk Investments LC Nueva Investment Partners	—	Detail
Dec 16, 2022	Debt Financing	£100M	2	NatWest Bank	—	Detail
Oct 19, 2021	Debt Financing	£72M	1	NatWest Bank	—	Detail
Oct 19, 2021	Series Unknown	—	2	NatWest Bank	—	Detail
Nov 1, 2020	Funding Round	£16M	2	—	—	Detail

Investors

Number of Lead Investors

Number of Investors

5

9

Updraft is funded by 9 investors. Auluk Investments and LC Nueva Investment Partners are the most recent investors.

Investor Name	Lead Investor	Funding Round
Auluk Investments	Yes	Series A
LC Nueva Investment Partners	Yes	Series A
NatWest Bank	Yes	Debt Financing
David Callard	—	Series A
Faber Capital	—	Series A
Majlis Investment Partners	—	Series A
Hampshire Trust Bank	—	Debt Financing
Quilam Capital	—	Series Unknown
The Future Fund	—	Funding Round