Updraft Secures Вј72m Investment In Natwest-led ... <Pro - 2024>

: NatWest led the round, providing Updraft's first senior debt facility. Specialist investment firm Quilam Capital also extended its existing debt facility to support the fintech's growth.

: The £72 million round consists of both equity and debt financing. Updraft secures ВЈ72m investment in NatWest-led ...

Founded in 2017 and headquartered in London, Updraft isn't just another lending app. It is designed specifically for "multi-card jugglers"—people managing multiple credit cards and overdrafts who want a lower-cost way to pay them off. : NatWest led the round, providing Updraft's first

Updraft’s Mission to Break the Debt Cycle: A £72m Milestone Founded in 2017 and headquartered in London, Updraft

Updraft secures £72m investment in NatWest-led funding round

The UK currently faces a significant debt challenge, with credit card and overdraft balances estimated to be around £50 billion. Updraft’s goal is to lend £200 million annually to help reduce these high-interest borrowings.

: This funding follows a £16 million raise in late 2020 and has since been surpassed by a even larger £272 million windfall in late 2023. Why This Matters for UK Consumers