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 senior debt facility. Specialist investment firm Quilam Capital also extended its existing debt facility to support the fintech's growth. Updraft secures ВЈ72m investment in NatWest-led ...
In a major move for the UK fintech scene, the financial wellness app Updraft has secured in a funding round led by banking giant NatWest . This investment marks a significant step forward for the "neolender," which aims to help UK consumers escape high-interest debt traps and build long-term financial resilience. What is Updraft? Founded in 2017 and headquartered in London, Updraft
The app uses technology and machine learning to build a 360-degree view of a user's finances. It then provides personalized advice and lower-interest loans to replace expensive borrowings like credit card balances and buy-now, pay-later (BNPL) debt. Key Highlights of the Funding Round Specialist investment firm Quilam Capital also extended its
: The £72 million round consists of both equity and debt financing.
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