Updraft is a technology company specializing in cloud backup and restoration services for WordPress websites, aiming to simplify the backup process and ensure website data is secure and easily recoverable.

Updraft

Updraft is a part lending, part credit report, and part financial planning app for millennials. Our mission is to help people break up with their credit cards and better manage their money.

Hampshire Trust Bank

NatWest Bank

Santander CIB

Jefferies

Auluk Investments

Faber Capital

LC Nueva Investment Partners

Majlis Investment Partners

David Callard

MoreThan Capital

Quilam Capital

LC Nueva Capital

Hot off the back of our award win in December. We've now been announced as a finalist in 2 categories for the 2024 British Bank Awards. 🔥 

- Best personal loan provider 😎 
- Best personal finance app 🤘 

As ever - to our customers, you rock. Our investors, you also rock. And the Updraft team, you're rockstars.

Here's to winning all the awards in 2024 - watch this space! 

We couldn’t be more excited to announce that we have raised £272m debt and equity round allowing the business to build on our mission to help UK households move away from expensive credit cards and overdrafts. 🎉💃🚀🍾

Through this latest round, we completed a £250m forward flow arrangement with Jefferies Financial Group with Santander CIB providing Senior Financing and secured further £22m Mezz and equity investment led by Quilam Capital, MoreThan Capital, LC Nueva AIF and Auluk Investments. Updraft was advised by Alantra on the design and execution of the forward flow arrangement. 

This announcement concludes a strong year for Updraft, which uses best in class risk models that outperform traditional bureau-based credit risk models by combining bureau data, open banking data and behavioural data to better underwrite credit risk and lower the cost of credit. Our business has now grown to 500,000 users and has successfully empowered individuals to take back control of their finances, by paying off more than £225m in credit cards and overdraft debt. 

The influx of capital sees Updraft reach profitability in 2024 and invest in our platform business. 

A big thank you to Team Updraft, our users, investors and partners. ❤️

Full story: news link below

Aseem Munshi Matt Millar 


https://lnkd.in/eRv2N-Ks

We did it. 

Winner of the Best Use of Tech in Consumer Lending at the FinTech Futures Banking Tech Awards 2023. 

Christmas just got a little merrier. 

Congrats to all the winners this evening…a few sore heads incoming. 

🫶🥳🍾

#winning

We are thrilled and honoured to be nominated as finalists for #AlternativeConsumerLenderOfTheYear and #BestFintechLender in this year’s Credit Strategy Lending Awards. 

A big thank you to Credit Strategy and esteemed judges for recognising our relentless effort in helping our users pay off their expensive borrowings. 🎉

Good luck to all other finalists in tonight’s awards night. 

#makechangesthatpayoff #updraft 


https://lnkd.in/gzdukY_y

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