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4th December 2020

London fintech Updraft raises £16m led by Quilam

Updraft, a part lending, part credit report, and part financial planning app designed to tackle escalating consumer borrowing, has secured £16m in funding to help its member’s avoid unnecessary credit card and overdraft charges. The funding arrives in the form of equity and debt, with specialist investment firm Quilam Capital leading on the debt side, and the UK Government’s Future Fund participating via their convertible loan note alongside a group of high-net-worth investors.

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