# Upgrade funding: rounds and investors > Upgrade has raised $537M across 4 rounds since 2017. Investors include Union Square Ventures, FirstMark and Ribbit Capital. Every round with its source. Source: https://millionrounds.com/company/upgrade (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *Upgrade* 4 rounds we have observed, with the 15 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Financial Services Fintech Raised 9 months ago Valuation: $7.3B, Mar 2026 Funding summary Updated 26 Oct 2026 **$537M** raised across 4 rounds since 2017, from 5 sources **$60M** Bridge **$62M** Series C **$165M** Growth **$250M** Debt - **Latest round:** Debt, $250M Feb 2026 - **Step-up i:** 1.5× - **Investors:** 15 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2017 2019 2021 2023 2025 **$60M** Bridge **$62M** Series C **$165M** Growth **$250M** Debt - **First round:** Bridge, $60M - **Biggest round:** $250M - **Usual gap between rounds:** 17 months ## The rounds - **Feb 2026** Debt **$250M** *4 returning* [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [Coatue](https://millionrounds.com/fund/coatue-management) [FirstMark](https://millionrounds.com/fund/firstmark) [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) Source recorded - **Oct 2025** Growth **$165M** *3 new* *3 returning* [Neuberger Berman](https://millionrounds.com/fund/neuberger-berman) Lead [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [Coatue](https://millionrounds.com/fund/coatue-management) [FirstMark](https://millionrounds.com/fund/firstmark) [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) [DST Global](https://millionrounds.com/fund/dst-global) Reported by TechStartups and 1 other - **Aug 2018** Series C **$62M** *2 new* *5 returning* [SVB Capital](https://millionrounds.com/fund/svb-capital) [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [FirstMark](https://millionrounds.com/fund/firstmark) [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) [SANDS](https://millionrounds.com/fund/sands) [Noah](https://millionrounds.com/fund/noah) Vy Reported by FinSMEs SEC filing: $6.5M sold, first sale Oct 2018 - **Apr 2017** Bridge **$60M** *10 new* [SVB Capital](https://millionrounds.com/fund/svb-capital) [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [FirstMark](https://millionrounds.com/fund/firstmark) [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) [Sands Capital Management](https://millionrounds.com/fund/sands-capital) [CreditEase](https://millionrounds.com/fund/creditease) [Uprising Ventures](https://millionrounds.com/fund/uprising) [Apoletto](https://millionrounds.com/fund/apoletto) [Noah Holdings](https://millionrounds.com/fund/noah-holdings) Vy Reported by TechCrunch ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Bridge** 2017 **Series C** 2018 **Growth** 2025 **Debt** 2026 [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) [FirstMark](https://millionrounds.com/fund/firstmark) [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) [SVB Capital](https://millionrounds.com/fund/svb-capital) [Coatue](https://millionrounds.com/fund/coatue-management) Vy [Neuberger Berman](https://millionrounds.com/fund/neuberger-berman) L [DST Global](https://millionrounds.com/fund/dst-global) [Sands Capital Management](https://millionrounds.com/fund/sands-capital) [SANDS](https://millionrounds.com/fund/sands) ## Everyone who backed them [Union Square Ventures](https://millionrounds.com/fund/union-square-ventures) VC firm **4** rounds [FirstMark](https://millionrounds.com/fund/firstmark) VC firm **4** rounds [Ribbit Capital](https://millionrounds.com/fund/ribbit-capital) VC firm **4** rounds [SVB Capital](https://millionrounds.com/fund/svb-capital) VC firm **2** rounds [Coatue](https://millionrounds.com/fund/coatue-management) VC firm **2** rounds Vy no record of our own yet **2** rounds [Neuberger Berman](https://millionrounds.com/fund/neuberger-berman) Private equity **1** round, led 1 [DST Global](https://millionrounds.com/fund/dst-global) Private equity **1** round [Sands Capital Management](https://millionrounds.com/fund/sands-capital) Growth equity **1** round [SANDS](https://millionrounds.com/fund/sands) VC firm **1** round [CreditEase](https://millionrounds.com/fund/creditease) VC firm **1** round [Uprising Ventures](https://millionrounds.com/fund/uprising) VC firm **1** round [Apoletto](https://millionrounds.com/fund/apoletto) Investment firm **1** round [Noah](https://millionrounds.com/fund/noah) VC firm **1** round [Noah Holdings](https://millionrounds.com/fund/noah-holdings) Investment firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=upgrade). ## Quick answers about Upgrade ### Who invested in Upgrade? Upgrade's investors include Union Square Ventures, FirstMark, Ribbit Capital, SVB Capital and Coatue, and 10 more on record. ### How much has Upgrade raised? Upgrade has raised $537M across 4 rounds since 2017. ### When did Upgrade last raise? Upgrade's most recent round was a Debt of $250M in Feb 2026. ### What was Upgrade's biggest round? Its most recent round, $250M in Feb 2026, is also its largest on record. ### Who backed Upgrade first? Upgrade's first round on record, in Apr 2017, was backed by SVB Capital, Union Square Ventures and FirstMark and 7 others. ### What stage is Upgrade at? Upgrade's latest named round is a Debt, in Feb 2026. ### Where is Upgrade based? Upgrade is based in the United States. ### Who led Upgrade's rounds? Neuberger Berman led the Growth in 2025. ## Companies like Upgrade In the same sector, and raised in the last eighteen months. [**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Coast** $77M · Oct 2026](https://millionrounds.com/company/coast)[**Whop** $400M · Oct 2026](https://millionrounds.com/company/whop)[**CapitalOS** $52M · Oct 2026](https://millionrounds.com/company/capitalos) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app