Upgrade Status
The company raised $62 million of Series C1 venture funding in a deal led by CreditEase on August 23, 2018, putting the company's pre-money valuation at $500 million. Union Square Ventures, FirstMark Capital, Noah Holdings, Ribbit Capital, Sands Capital Ventures, Silicon Valley Bank, Vy Capital and Apoletto Asia also participated in this round. The new financing will fuel the company's continued product innovation on the heels of the recent launch of its Personal Credit Line and the expansion of Credit Health, Upgrade's credit monitoring and education product. The new capital will also enable continued investments in product, credit analytics, compliance, risk management and in the expansion of San Francisco, Phoenix, Montreal and Chicago offices.
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