Series B · Fintech · London, United Kingdom · Founded 2017 · 40–50 employees
Updraft is a London-based fintech that combines lending, credit reporting, and financial planning to help people escape high-interest credit card debt. The company uses open banking and behavioral data to improve credit risk underwriting and offers debt consolidation loans at lower rates than traditional credit cards. Founded in 2017 by former HSBC executive Aseem Munshi, Updraft has raised over £272 million in funding and serves as a comprehensive solution for millennials looking to break free from expensive borrowing cycles. The platform has gained significant traction with over 40,000 people joining their waitlist and features innovative tools like Direct Strike that automatically pays off highest-APR cards first.