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UPGRADE
Upgrade
Fintech · San Francisco, California · United States · Founded · 2016 · ≈ · 1,950 · employees

Upgrade Funding — Last Valued at $7.3B

Private

Upgrade has raised $445M across 1 funding round, plus 1 undated round. The latest round valued Upgrade at $7.3B pre-money, with Neuberger Berman on the lead line.

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Upgrade funding · at a glance
Total raised, all rounds
$445M
sum of disclosed sizes
Funding rounds
1
plus 1 undated round
Latest round
$7.3B
pre-money · Oct 2025
Lead on that event
Neuberger Berman
First external funding in nearly four years
2025
About Upgrade

Upgrade's Series G round, led by Neuberger Berman's NB Alternatives Advisers with LuminArx Capital, DST Global, and Ribbit Capital, raised $165 million in October 2025 and pushed its valuation to $7.3 billion, on top of $750 million in equity raised since the company's founding.

Funding timeline

The Upgrade funding timeline

1 funding round, the latest highlighted.

2016
Upgrade founded

Upgrade was founded in 2016, United States.

UNDATED
Series F

No date is disclosed for this round.

OCT 2025LATEST
Series G at $7.3B pre-money

First external funding in nearly four years. $165M raised, led by Neuberger Berman.

Valuation basispre-moneyAmount$165MPrice / shareLeadNeuberger Berman
IPO: NOT ANNOUNCED

No filing has been made.

Funding rounds

Upgrade funding rounds in full

1 dated round, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
Series G LATEST
Oct 2025
$165M
$7.3Bpre-money
—
Neuberger Berman
First external funding in nearly four years
Series F
—
$280M
$6Bpre-money
—
Coatue Management, DST Global
Dragoneer Investment Group, Gopher Asset Management, G-Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital, Vy Capital
Upgrade · investors

Investors

Coatue ManagementLEADDST GlobalLEADNeuberger BermanLEADRibbit CapitalKKoch Disruptive TechnologiesSantander InnoVentures

Frequently asked questions

How can I get exposure to Upgrade?›

The routes section explains what is realistically available for a company at this stage.

Is Upgrade publicly traded?›

No. Upgrade is a private company; its shares do not trade on a public exchange.

What is Upgrade's valuation?›

The last valuation is $7.3B.

Who are Upgrade's competitors?›

The closest fintech peers are on the competitors page.

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