Updraft Secures — Вј72m Investment In Natwest-led ...

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

Updraft secures £72m investment in NatWest-led funding round 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? The app uses technology and machine learning to

: 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. This investment marks a significant step forward for

: 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

: The £72 million round consists of both equity and debt financing.