Tuesday, August 23, 2016

LendUp Lands $47.5M

San Francisco-based LendUp, a provider of loans to those who do not traditionally qualify for bank loans, has raised $47.5M in a Series C funding. The funding was led by Y Combinator Continuity, and also included Google Ventures, Thomvest Ventures, QED Investors, Data Collective, Susa Ventures, Radicle Impact, Bronze Investments and SV Angel. The startup offers up what it calls an "alternative to payday loans" of up to $250, although the company's rates approach the extremely high interest rates of oft-maligned payday loan providers, charging up to $396.39% for a 14 day advance of $200. More information »