Fintech Updraft has raised £108m in a Series A equity and debt funding round to expand operations.
The £8m equity funding was led by Lighthouse Canton and Auluk Investment.
The round also saw participation from several other investors, including David Callard, Majlis Investments, and Faber Capital.
Updraft plans to use the funding to increase its team size, grow its customer base and expand into new markets in Europe and Asia.
The fintech leverages algorithms, open banking and credit reference data to offer customized personal loans to customers.
In December 2020, the fintech firm raised £16m to expand into UK’s consumer lending market.