: The £72 million round consists of both equity and debt financing.

Founded in 2017 and headquartered in London, Updraft isn't just another lending app. It is designed specifically for "multi-card jugglers"—people managing multiple credit cards and overdrafts who want a lower-cost way to pay them off.

The app uses technology and machine learning to build a 360-degree view of a user's finances. It then provides personalized advice and lower-interest loans to replace expensive borrowings like credit card balances and buy-now, pay-later (BNPL) debt. Key Highlights of the Funding Round