Upgrade, Inc. Logo (PRNewsfoto/Upgrade, Inc.)
<p><strong><span class="xn-location">SAN FRANCISCO</span></strong> &#8212; Upgrade, Inc., a fintech company that offers affordable and responsible credit and mobile banking to consumers, has raised a <span class="xn-money">$280 million</span> Series F round at a <span class="xn-money">$6 billion</span> pre-money valuation. The round was led by Coatue Management and DST Global. Dragoneer Investment Group and existing investors including Gopher Asset Management, G-Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital and Vy Capital also participated in the round.</p>
<p>Upgrade has delivered over <span class="xn-money">$10 billion</span> in credit to consumers through <a href="https://c212.net/c/link/?t=0&;l=en&;o=3359866-1&;h=2002576782&;u=https%3A%2F%2Fwww.upgrade.com%2Fupgrade-card%2F&;a=cards" target="_blank" rel="nofollow noopener">cards</a> and <a href="https://c212.net/c/link/?t=0&;l=en&;o=3359866-1&;h=697342185&;u=https%3A%2F%2Fwww.upgrade.com%2Fpersonal-loans%2F&;a=loans" target="_blank" rel="nofollow noopener">loans</a> since inception in 2017. It also offers <a href="https://c212.net/c/link/?t=0&;l=en&;o=3359866-1&;h=3872508257&;u=https%3A%2F%2Fwww.upgrade.com%2Frewards-checking%2F&;a=Rewards+Checking" target="_blank" rel="nofollow noopener">Rewards Checking</a> accounts with debit cards that pay 2% rewards on everyday transactions and monthly subscriptions. Upgrade is headquartered in <span class="xn-location">San Francisco, California</span>, with an operations center in <span class="xn-location">Phoenix, Arizona</span> and a technology center in <span class="xn-location">Montreal, Canada</span>.</p>
<p>Upgrade has raised over $600 million to date.</p>
<p>&#8220;We are thrilled to partner with DST, Coatue and Dragoneer,&#8221; said <span class="xn-person">Renaud Laplanche</span>, 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&#8221;.</p>
<p>Upgrade was recognized as the fastest growing company in the Americas by the Financial Times earlier this year, and <a href="https://c212.net/c/link/?t=0&;l=en&;o=3359866-1&;h=3323594256&;u=https%3A%2F%2Fwww.upgrade.com%2Fupgrade-card%2F&;a=Upgrade+Card" target="_blank" rel="nofollow noopener">Upgrade Card</a> was recently recognized by Nilson Report as the fastest growing credit card in America, marking the first time a fintech company has appeared among the top 50 US credit card issuers.</p>
<p>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>
<p>&#8220;Upgrade is an exciting example of a credit-led neobank&#8221; said <span class="xn-person">Philippe Laffont</span>, 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>
<p>Upgrade debuted a Rewards Checking account earlier this year that offers 2% cash back debit card rewards to consumers on common everyday expenses. The company also recently launched Upgrade 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>

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