Upgrade
Upgrade is a U.S. fintech company offering personal loans, credit cards, and mobile banking through partner banks.
Last updated September 29, 2026
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Overview
Upgrade, Inc. is an American financial technology company that operates an online marketplace platform for consumer credit, mobile banking, and payment products. Founded in 2017 by Renaud Laplanche, the company is headquartered in San Francisco, California, with additional offices in Phoenix, Montréal, Wilmington, Atlanta, and Orange County. Upgrade is not a bank; it partners with FDIC-insured institutions such as Cross River Bank and The Bancorp Bank to originate loans, issue credit cards, and provide deposit accounts. Its product suite includes personal loans up to $50,000, personal credit lines, the Upgrade OneCard and Upgrade Card, Rewards Checking, savings accounts, and Buy Now, Pay Later options. As of its official website, Upgrade reports over 8 million customers and more than $50 billion borrowed through its platform. The company positions itself as offering affordable and responsible credit with no hidden fees, free credit monitoring, and cash-back rewards. Upgrade has been recognized as a best place to work and a top startup employer.
History
Upgrade, Inc. was founded in 2017 by Renaud Laplanche, the co-founder and former CEO of LendingClub. The company launched with a focus on providing affordable personal loans and credit lines to consumers, aiming to disrupt traditional credit card debt with fixed-rate installment products. In its early years, Upgrade partnered with Cross River Bank to originate loans and issue credit cards. The company expanded its product line to include the Upgrade Card, a credit card that allows access to a personal credit line, and later the Upgrade OneCard, a cash-back credit card. In 2021, Upgrade introduced Rewards Checking, a mobile banking account with cash-back rewards and no monthly fees. The company also launched Flex Pay, a Buy Now, Pay Later service, and Boost Money, a suite of financial products. By 2026, Upgrade reported over $50 billion in credit made available and more than 8 million customers. The company has offices in San Francisco, Phoenix, Montréal, Wilmington, Atlanta, and Orange County, and has been recognized as a best place to work and a top startup employer.
- 2026
Reported over $50 billion in credit made available and 8 million customers.
- 2021
Launched Rewards Checking mobile banking account.
- 2017
Upgrade, Inc. founded by Renaud Laplanche.
Products and positioning
Affordable and responsible credit with no hidden fees, free credit monitoring, and cash-back rewards.
Personal Loans
Fixed-rate personal loans up to $50,000 with fast funding.
Upgrade OneCard
Cash back credit card with no annual fee, 3% unlimited cash back on gas, groceries, streaming, and utilities, 1% on all other purchases.
Rewards Checking
Checking account with cash back, no monthly maintenance fees, and early direct deposit.
Flex Pay
Buy Now, Pay Later service for travel and retail partners.
Recent events
Upgrade launches Upgrade Shopping[4]
Reported:
Upgrade announced the launch of Upgrade Shopping, a service offering cashback rewards at more than 20,000 local and national merchants.
Upgrade launches Bitcoin Rewards Card[5]
Reported:
Upgrade launched the Upgrade Bitcoin Rewards Card, a Visa credit card that offers 1.5% bitcoin rewards on payments. The card was not available in all U.S. states.
Sources5 sources
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