Updraft Secures Вј72m Investment In Natwest-led ... [ DELUXE — SUMMARY ]

The UK currently faces a significant debt challenge, with credit card and overdraft balances estimated to be around £50 billion. Updraft’s goal is to lend £200 million annually to help reduce these high-interest borrowings.

: 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. Updraft secures ВЈ72m investment in NatWest-led ...

: The £72 million round consists of both equity and debt financing. The UK currently faces a significant debt challenge,

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 Specialist investment firm Quilam Capital also extended its

: 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