Upgrade, Inc. (FKA: Credify Finance Corporation) has developed an online lending platform designed to reduce the cost of credit and deliver access to new products to help consumers better understand their credit and make responsible credit decisions. It is also a component in the Prime Unicorn Index benchmark, the standard bearer for private markets benchmarking.
Its last preferred round of Series F was $280mm in November 2022, with participation from Coatue, Dragoneer Investment Group, G Squared Ventures, Ribbit Capital, and others which valued the company at approximately $6.4 billion on a post-money valuation basis at a preferred price per share of $5.64. Since its last financing, the company has filed two Employee Plan Exemption Notices with the state of California. The last two government filings indicated its common shares were priced at $2.32 per share (February 1, 2022) and $1.55 per share (May 31, 2023), indicating a 33.18% decrease in the value of its common shares that were granted to company executives.
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