"Upgrade is an exciting example of a credit-led neobank" said Philippe Laffont, founder and CEO of Coatue Management. "Credit is a key component of banking and has been a major source of revenue for banks. We are excited by Upgrade's innovative credit products that we believe can help the company capture a significant share of the mobile banking market".

https://www.finextra.com/newsarticle/39225/upgrade-almost-doubles-valuation-on-280-million-funding-round