Pay off your overdraft and credit cards and get closer to your money.
Updraft wants to help customers get rid of spend-linked borrowings such as credit cards, overdrafts and increasingly, the buy now pay later schemes often found on ecommerce sites. Using open banking and credit report data, it automatically builds a 360-degree picture of a user’s spending and borrowing and provides a series of interventions designed to lift the consumer back into the black.
U.K.-based insurtech Eleos has secured $4 million in seed funding. The round was led by Fuel Ventures and Indico Capital. Early-stage investor APX also participated. …
Updraft announced the closing of a £250M forward flow arrangement with Jefferies and Santander Corporate and Investment Banking.