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275 Battery Street, 23rd Floor
San Francisco, CA 94111
USA
Website Company Summary Management Team
Management

CEO: Renaud Laplanche (11/17/2016) ; John Dye (9/6/2017)
General Management: Adelina Grozdanova (03/31/2016)
Finance: Jeff Bogan (8/31/2016) ; Sudip Lahiri (07/31/2020)
Technology: Visar Nimani (08/31/2016)
General Counsel/Legal: Adam Ajlouni ; Sydney Ryan ; Tuong-Vi Faber
Board

Outside board: (May no longer be on the board) Meyer Malka (Ribbit Capital Founder) Anju Patwardhan (CreditEase Fintech Investment Fund Managing Director) Scott Bommer (SAB Capital Management CEO) Joseph L. Breeden (Prescient Models CEO) Chris Gottschalk (Mouro Capital General Partner) Joseph F. Huber (Credit Suisse sr. advisor)
Company

Business description: Upgrade has delivered over $10 billion in affordable and responsible credit to mainstream consumers through cards and loans since inception in 2017. It also offers Rewards Checking accounts with debit cards that pay 2% rewards on everyday transactions and monthly subscriptions. Upgrade is headquartered in San Francisco, California, with an operations center in Phoenix, Arizona and a technology center in Montreal, Canada. Loans and credit lines are issued, and banking services are provided, by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender, and Blue Ridge Bank, a nationally chartered commercial bank, Member FDIC. Bitcoin execution and custody services are provided by NYDIG Execution LLC (“NYDIG”). NYDIG is authorized by the New York State Department of Financial Services to engage in virtual currency business activity. Upgrade Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Rewards associated with the Upgrade Card, when applicable, are provided by Upgrade, Inc.
Capital

Rounds: 7
Recent Fundings: Nov 2021   Aug 2021
Capital raised: 507.0M
Last Round: 200.0M
Ownership: Private  
VCs include: SVB CapitalUnion Square Ventures FirstMark Capital ;  DST Global;  Sands Capital Ventures Ribbit Capital Dragoneer Investment GroupCoatue Management;  Santander Innoventures ;  CreditEase ;  Vy Capital CreditEase Fintech Investment Fund ;  Koch Disruptive Technologies Uprising Ventures;  Apoletto Managers Fund Q6 Capital;  BRV ;  Ventura Capital ;  Old Well Partners
Corporate investors: Noah Holdings
Other investors: Gopher Asset Management;  G-Squared

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Overview
Record updated: Nov 2021
Sector: FinTech
Year Founded: 2016
Headcount: 401-500 as of Nov 2021
Rounds: 7
Recent Fundings: Nov 2021   Aug 2021
Capital Raised: 507.0M
Last Round: 200.0M
Ownership: Private