Private Valuation & Funding Round Tracker · Upgrade

Upgrade funding rounds & valuation history

Name: Upgrade Funding Rounds & Valuation History
Creator: growthnavigatefunding.net

Upgrade, the San Francisco consumer-credit and banking fintech founded by LendingClub founder Renaud Laplanche. Funding from the Series A (Mar 2017) to the Series G (Oct 2025), sourced to Upgrade and CNBC.

Last updated: 13 Nov 2026 (IST). Every figure re-checked against the linked sources that day. Rows: 6 Currency: US$, nominal

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Last closed round Closed

$7.3B

$165M Series G, Oct 2025

Raised in rounds listed

$712M

Sum of 6 closed rounds with a disclosed amount (GNF calc.)

Largest round

$280M

Series F, Nov 2021

Closed rounds listed

Mar 2017 to Oct 2025

Round history

Newest first. Dashed badges and striped rows are not closed transactions. “—” means the source does not disclose the figure or it cannot be computed on the same basis; see the note in each row.

Upgrade funding rounds, Mar 2017 to Oct 2025
Date	Status	Round	Amount	Lead / buyer	Valuation	Val. ÷ run-rate	Source
16 Oct 2025	Closed round	Series GCNBC: the round also set a price for employee share sales; Laplanche said Upgrade was “probably 12 to 18 months away from an IPO”.	$165M	Neuberger BermanWith: LuminArx Capital Management	$7.3BStated by CEO Renaud Laplanche (CNBC); pre- or post-money not stated	—Not disclosedNo run-rate stated in the announcement	Upgrade, 16 Oct 2025Also: CNBC, 16 Oct 2025
16 Nov 2021	Closed round	Series F	$280M	Coatue Management, DST Global	$6BPre-money, stated by Upgrade	—Not disclosedNo run-rate stated in the announcement	Upgrade, 16 Nov 2021
11 Aug 2021	Closed round	Series E	$105M	Koch Disruptive TechnologiesWith: BRV, Ventura Capital and others	$3.325BPre-money, stated by Upgrade	—Not disclosedNo run-rate stated in the announcement	Upgrade, 11 Aug 2021
17 Jun 2020	Closed round	Series D	$40M	Santander InnoVenturesWith: Union Square Ventures, Ribbit, Vy Capital, Silicon Valley Bank (existing); Ventura Capital, Uncorrelated Ventures (new)	Not disclosedNo company valuation stated by the source	—Not disclosedNo run-rate stated in the announcement	Upgrade, 17 Jun 2020
23 Aug 2018	Closed round	Series CIncludes the conversion of all previously issued convertible notes; Upgrade had raised $142M in equity since 2016.	$62M	CreditEase Fintech Investment Fund	Not disclosedNo company valuation stated by the source	—Not disclosedNo run-rate stated in the announcement	Upgrade, 23 Aug 2018
Mar 2017	Closed round	Series AEquity and convertible notes.	$60M	Not namedWith: Apoletto, CreditEase, FirstMark Capital, Noah Holdings, Ribbit Capital, Sands Capital Ventures, Silicon Valley Bank, Union Square Ventures and others	Not disclosedNo company valuation stated by the source	—Not disclosedNo run-rate stated in the announcement	Upgrade, 6 Apr 2017

Step-up = valuation ÷ the prior closed valuation (GNF calc.), shown only where both figures were stated or reported and neither is a lower bound.

Valuation at each closed round

Valuations as stated or reported at each closed round with a disclosed figure; talks, tenders and filings are not plotted.

Series EAug 2021$3.325B
Series FNov 2021$6B
Series GOct 2025$7.3B

Sources: Upgrade, CNBC. US$ billions, linear scale.

Timeline

Each round and share sale, oldest first.

Mar 2017 · Closed
Series A: $60M led by Not named.
23 Aug 2018 · Closed
Series C: $62M led by CreditEase Fintech Investment Fund.
17 Jun 2020 · Closed
Series D: $40M led by Santander InnoVentures.
11 Aug 2021 · Closed
Series E: $105M at $3.325B led by Koch Disruptive Technologies.
16 Nov 2021 · Closed
Series F: $280M at $6B led by Coatue Management, DST Global.
16 Oct 2025 · Closed
Series G: $165M at $7.3B led by Neuberger Berman.

Still private (IPO planned, not filed): In October 2025 CEO Renaud Laplanche said Upgrade was 12 to 18 months from an IPO. As of 13 Nov 2026 SEC EDGAR shows no S-1 (only asset-backed securitisation reports) and no pricing. Upgrade has no listed parent.

Cite this dataset

Free to quote with a link back. Copy this citation:

Upgrade Funding Rounds & Valuation History. Private Valuation & Funding Round Tracker, GrowthNavigateFunding.net, updated 13 Nov 2026. https://growthnavigatefunding.net/funding/upgrade/

Download the data

The same 6 rows as the table: numeric US$ columns, empty cells where a figure is not disclosed, and a source URL for every row.

File: upgrade-rounds.csv (UTF-8, comma-separated)
Stable URL: https://growthnavigatefunding.net/wp-content/uploads/2026/11/upgrade-rounds.csv
Columns: id, date, date_precision, status, transaction_type, round, amount_usd_low, amount_usd_high, lead_or_buyer, co_leads, valuation_usd_low, valuation_usd_high, valuation_basis, valuation_to_run_rate_multiple, multiple_bound, multiple_basis, step_up_vs_prior_closed, price_per_share_usd_low, price_per_share_usd_high, shares, source, source_url, other_source_urls, notes, last_updated
Updated: 13 Nov 2026 (IST)

⬇ Download CSV

Methodology & status definitions

How each row is labelled and calculated.

Closed round

A primary round announced by the company or confirmed in the press, bringing new money to the company.

Valuation ÷ run-rate

Post-money valuation ÷ the run-rate the company stated in that announcement (GNF calc.). Where the run-rate is “crossed” or “over” a figure, the multiple is shown as “under X×”. No row qualifies here unless shown, so no multiple is invented.

What is not a separate row

A Series B (not separately announced; Upgrade reported $142M raised by its 2018 Series C); loan-sale and securitisation facilities; employee share sales at the 2025 Series G price.

Updates & corrections

This page stays at one address and is updated in place; the “Last updated” date above drives the citation and the dataset metadata. Corrections: hello@growthnavigatefunding.net. Informational only; not investment advice.

Changelog

13 Nov 2026: Dataset first compiled (batch 4, not yet published).

Upgrade Funding Rounds & Valuation History (2017–2025)