San Francisco based middle class-focused lender LendUp has gained $100m in debt financing from Victory Park Capital. LendUp’s mission is to provide anyone with a path to better financial health.
“This is an important milestone for LendUp because it proves the viability and sustainability of the market opportunity for socially responsible lending,” said Sasha Orloff, LendUp CEO and co-founder. “I’m proud that our business growth and customer loyalty, combined with the continued confidence of our investors, proves that we’re well-positioned to help borrowers improve their financial health and lead better lives. We look forward to continuing to build upon our success.” LendUp’s mission is to provide anyone with a path to better financial health. The company offers technology-enabled loans and credit cards supported by embedded financial education and a focus on improving credit. LendUp has saved borrowers more than $55 million in interest and fees in 2016, up from $16 million in 2015, and its free credit education videos have been viewed more than 1.2 million times.