Upgrade, Inc. (FKA: Credify Finance Corporation) has made notable strides with its online lending platform aimed at lowering credit costs and providing new product access to assist consumers in understanding and making responsible credit decisions. The platform remains a component in the Prime Unicorn Index.
The company’s last preferred funding round was a Series F round, which raised $280 million in November 2022 with participation from Coatue, Dragoneer Investment Group, G Squared Ventures, Ribbit Capital, and others, valuing Upgrade at approximately $6.4 billion post-money at a preferred share price of $5.64.
Since then, Upgrade has filed three Employee Plan Exemption Notices with the state of California. The filings show a decline in the common share price, from $2.32 per share on February 1, 2022, to $1.55 per share on May 31, 2023, and now to $1.45 per share as of the latest filing on October 17, 2023. This represents a continued decrease in the valuation of common shares issued to company executives and values the company at roughly $4 billion.
See how Upgrade has performed against the Prime Unicorn Index below.