Upgrade

Upgrade was founded in 2016 by Renaud Laplanche, who had previously founded and served as CEO of LendingClub, one of the earliest and largest peer-to-peer lending platforms, before departing that company amid a governance controversy, and drawing on that prior consumer lending experience to build Upgrade with a somewhat different positioning, emphasizing not only providing credit but also helping customers build better long-term financial health and credit standing alongside the specific loan or credit product being provided, rather than positioning itself purely as a lending transaction platform. Upgrade's core products include personal installment loans, used by consumers for purposes such as debt consolidation and various other borrowing needs, and a credit card product that incorporates certain installment loan-like features, letting cardholders pay down specific purchases through structured installment plans in some cases, blending characteristics of traditional revolving credit cards with some of the more structured, predictable repayment characteristics of installment loans. The company has emphasized financial health and credit education features alongside its core lending products, including tools that help customers understand and monitor their credit standing and provide guidance on building stronger long-term credit history, positioning Upgrade as aiming to help customers improve their overall financial position over time rather than only providing a specific credit product for an immediate borrowing need without broader financial health considerations. Upgrade has originated loans both directly and through bank partnership arrangements common among many fintech lenders, letting it access broader lending authority across different states than operating purely under its own more limited lending licenses might allow. The company has grown substantially since its founding to become one of the more significant consumer lending fintech companies, reflecting founder Renaud Laplanche's extensive experience and network within the consumer fintech lending industry from his earlier work building LendingClub into one of the pioneering companies in that category. Upgrade's customers span consumers seeking personal loans and credit card products, often for debt consolidation and other borrowing needs. The company has raised substantial venture funding from investors including Union Square Ventures, Ribbit Capital, and other venture investors, reaching unicorn status.

News

7/20/2026

OnePay and Upgrade Launch Personal Loans Up to $50,000

This partnership enables OnePay users to access personal loans ranging from $1,000 to $50,000, enhancing financial flexibility amid economic challenges.

PR Newswire

10/16/2025

Upgrade Raises $165 Million in Series G Funding, Valuing Company at $7.3 Billion

Upgrade's $165 million funding round not only solidifies its valuation but also positions it to enhance its financial technology offerings, potentially reshaping consumer banking experiences and intensifying competition in the fintech sector.

CNBC

PR Newswire

Fortune

3/5/2025

Upgrade and Expedia Launch Flex Pay for Cruise Bookings

The launch of Flex Pay for cruise bookings by Upgrade and Expedia enhances consumer flexibility in travel financing, potentially increasing market demand and reshaping the competitive landscape in the cruise industry.

PR Newswire

Finovate

7/24/2024

Upgrade Launches Innovative Hybrid Credit Card and Loan Products

Upgrade's launch of hybrid credit card and loan products signals a strategic move to capture a growing market segment seeking flexible financial solutions, presenting an opportunity for investors to engage with innovative fintech offerings.

Fortune

Business Insider

6/27/2024

Grow Capital, Inc. Achieves Pink Current Information Tier on OTC Markets and Announces Technology Upgrades

Grow Capital, Inc.'s recent achievements demonstrate its commitment to transparency and technological advancement in the financial services sector.

PR Newswire