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.
Updraft secures £72m investment in NatWest-led funding round
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.
: The £72 million round consists of both equity and debt financing.
Updraft’s Mission to Break the Debt Cycle: A £72m Milestone
: 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.
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 Secures Вј72m Investment In Natwest-led ... May 2026
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.
Updraft secures £72m investment in NatWest-led funding round
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.
: The £72 million round consists of both equity and debt financing.
Updraft’s Mission to Break the Debt Cycle: A £72m Milestone
: 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.
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
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