Upgrade
Helping you move up
Fintech
📍 San Francisco, California
Founded 2016
Current Valuation
$5.0B
as of 2025-Q4
UNICORN
Upgrade, Inc. is an American fintech company and neobank that offers affordable and responsible credit, mobile banking, and payment products to mainstream consumers. Founded in 2016 by Renaud Laplanche (former LendingClub founder) and his colleagues, Upgrade provides personal loans, credit cards, savings accounts, and other financial products designed to help customers avoid high-interest revolving debt. The company has served over 7 million customers and facilitated over $42 billion in consumer credit since inception.
Company Profile
HQ
San Francisco, California
Est. Revenue
$1.0B (2025-Q4)
Growth
Fastest growing credit card by outstanding balance for two consecutive years (2021-2022), cash flow positive since 2022, revenue more than doubled since 2021
Last Round
Tender Offer 1 — $49M (Nov 2025)
IPO Status
Private - IPO planned within 12-18 months from October 2025
Founders & Key People
Renaud LaplancheAdelina GrozdanovaJeff BoganVisar NimaniMatt WiermanSoul Htite
Investors
Apoletto · Coatue Management · CreditEase Fintech Investment Fund · Cross River Bank · DST Global · Dragoneer Investment Group · FirstMark Capital · G-Squared · Gopher Asset Management · Koch Disruptive Technologies · LuminArx Capital Management · Mouro Capital · Neuberger Berman · NOAH · Old Well Partners · Ribbit Capital · Sands Capital · Santander · Silicon Valley Bank · Union Square Ventures · Ventura Capital · Vy Capital
Products
- Personal Loans
- Upgrade Card
- Rewards Checking
- OneCard
- Premier Savings
- Flex Pay
- Auto Financing
- Home Improvement Financing
- Personal Credit Line
- Credit Health
Competitors
SoFi · LendingClub · Affirm · Marcus
fintechneobankconsumer lendingcredit cardspersonal loansmobile bankingunicorn
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q4. Refreshed quarterly.