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’s Mission to Break the Debt Cycle: A £72m Milestone Updraft secures ВЈ72m investment in NatWest-led ...

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

Founded in 2017 and headquartered in London, Updraft isn't just another lending app. It is designed specifically for "multi-card jugglers"—people managing multiple credit cards and overdrafts who want a lower-cost way to pay them off. Updraft’s goal is to lend £200 million annually

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

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.