Upgrade Defies Neobank Trend with $165M Funding, Product Diversification Strategy
Upgrade has reportedly raised $165 million in new funding while maintaining profitability through a diversified business model. The neobank’s approach contrasts with industry struggles, according to Fortune’s coverage of the fintech sector.
Neobank Upgrade Secures Major Funding Amid Industry Challenges
San Francisco-based fintech company Upgrade has reportedly raised $165 million in Series G funding while charting a different course than many struggling digital banking competitors, according to sources familiar with the matter. The funding round was led by Neuberger Berman Funds with participation from LuminArx and existing shareholders DST Global and Ribbit Capital.