What is LendUp?
Founded in 2012 and headquartered in Oakland, California, LendUp operates as a digital financial services provider. The company focuses on offering accessible credit products, including credit cards and loans, to a broad consumer base. LendUp aims to differentiate itself by providing responsible lending solutions and fostering financial empowerment through its digital platform. Its strategic positioning in the online lending market is supported by substantial capital infusions, enabling it to scale its operations and product offerings.
How much funding has LendUp raised?
LendUp has raised a total of $361.5M across 5 funding rounds:
Series A
$14M
Debt
$50M
Series B
$150M
Series C
$47.5M
Debt
$100M
Series A (2013): $14M with participation from QED Investors, Google Ventures, and Data Collective
Debt (2014): $50M led by QED Investors, Google Ventures, Data Collective, and Victory Park Capital
Series B (2016): $150M supported by Susa Ventures, SV Angel, QED Investors, Google Ventures, Data Collective, Victory Park Capital, and Kapor Capital
Series C (2016): $47.5M featuring GV, Bronze Investments, PayPal, SV Angel, QED Investors, Data Collective, Radicle Impact, Y Combinator, and Thomvest Ventures
Debt (2017): $100M backed by Victory Park Capital
Key Investors in LendUp
Susa Ventures
Susa Ventures is an early-stage venture capital firm that invests in seed-stage startups, aiming to help build the next billion-dollar companies. They provide capital, community, and talent without taking board seats.
SV Angel
SV Angel is a long-term investment firm dedicated to supporting founders in creating impactful businesses. They prioritize building strong partnerships by advocating for founders and providing essential resources, strategic insights, and a vast network.
QED Investors
QED Investors is a global leading boutique venture capital firm focused on investing in early stage, disruptive financial services companies. They use a unique, hands-on approach leveraging their partners' decades of entrepreneurial and operational experience.
What's next for LendUp?
With a history of substantial investment, including multiple debt and equity rounds, LendUp is positioned for continued expansion and innovation in the fintech sector. The company's trajectory suggests a focus on enhancing its product suite, potentially exploring new credit products or financial wellness tools. The consistent backing from prominent venture capital firms and strategic investors indicates confidence in LendUp's business model and its capacity to navigate the evolving regulatory and competitive environment of online lending. Future developments may involve strategic partnerships or technological advancements to further solidify its market position.
See full LendUp company page
