What is Updraft?
Updraft leverages smart algorithms, Open Banking, and credit reference data to construct a comprehensive financial profile for its users. The platform then delivers personalized recommendations designed to foster beneficial financial habits and optimize debt repayment strategies. By providing bespoke guidance, Updraft aims to empower individuals to manage their finances more effectively and achieve their financial goals.
How much funding has Updraft raised?
Updraft has raised a total of $598.1M across 5 funding rounds:
Other Financing Round
$21.6M
Unspecified
$99.3M
Debt
$121M
Private Equity
$9.7M
Other Financing Round
$346.5M
Other Financing Round (2020): $21.6M with participation from Future Fund and Quilam Capital Limited
Unspecified (2021): $99.3M, investors not publicly disclosed
Debt (2022): $121M supported by Hampshire Trust Bank and NatWest Group
Private Equity (2022): $9.7M featuring Majlis Investments, Faber Capital, Auluk, and LC Nueva Investment Partners
Other Financing Round (2023): $346.5M backed by Lighthouse Canton and Quilam Capital
Key Investors in Updraft
Lighthouse Canton
Lighthouse Canton is an asset and wealth management firm with a focus on real estate private equity and direct lending, investing across public and private markets on behalf of institutional investors, family offices, and high net worth individuals.
Quilam Capital
Quilam Capital is a specialist growth investor and senior debt provider focused on the Specialty and Alternative Finance market, offering flexible solutions and supporting entrepreneurs with a no-nonsense, adaptive approach.
Faber Capital
Faber Capital is an investment advisory firm providing capital raise, M&A, and investment management advisory services, with a focus on sectors like technology and healthcare, and a tech investment platform specializing in deep-tech, metaverse, and AI.
What's next for Updraft?
The recent major strategic investment positions Updraft for accelerated expansion and further development of its core technology. This capital infusion is expected to fuel advancements in its recommendation engine and broaden its market reach. As Updraft continues to scale, it is poised to become a leader in personalized financial guidance, helping a wider audience navigate complex financial landscapes and build healthier financial futures.
See full Updraft company page
