Upgrade raises $280 million

Neobank designed to offer affordable and responsible credit to mainstream consumers Upgrade has raised $280 million of Series F venture funding led by new investors Coatue Management and DST Global. The latest deal values the company at $6.28 billion, an 83% jump from a previous round the start-up closed just four months ago. 

Upgrade’s revenue reportedly climbed 70% between June and October. The company expects to deliver $8 billion in credit to consumers through its credit cards and personal loans this year.