About Upwards
Upwards is a company based in Mumbai (India) founded in 2017 was acquired by Lendingkart in February 2023. It operates as a FinTech, and Commission-Based. Upwards has raised $5.5 million across 2 funding rounds from investors including Lendingkart, India Quotient and Shunwei Capital. The company has 39 employees as of April 01, 2024. Upwards offers products and services including Personal Loan, Travel Loan, and Student Loan. Upwards operates in a competitive market with competitors including Kissht, Stashfin, Money View, CASHe and True Balance, among others.
- Headquarter Mumbai, India
- Employees 39 as on 01 Apr, 2024
- Stage Minicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Upwards Fintech Services Private Limited
- Date of Incorporation 09 Jan, 2017
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$775.69 K (USD)-9.36as on Mar 31, 2023
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Net Profit
$-1.1 M (USD)-91.35as on Mar 31, 2023
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EBITDA
$-919.91 K (USD)-62.34as on Mar 31, 2023
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Total Equity Funding
$5.5 M (USD)
in 2 rounds
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Latest Funding Round
$5 M (USD), Series A
Aug 03, 2018
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Investors
Lendingkart
& 3 more
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Employee Count
39
as on Apr 01, 2024
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Acquired by
Lendingkart
(Feb 08, 2023)
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Products & Services of Upwards
Upwards offers a comprehensive portfolio of products and services, including Personal Loan, Travel Loan, and Student Loan. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Personal loans are offered for various individual needs.
Travel loans are provided for funding travel expenses.
Student loans are available for educational funding needs.
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Funding Insights of Upwards
Upwards has successfully raised a total of $5.5M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $5 million completed in August 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $5.0M
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First Round
First Round
(07 Nov 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2018 | Amount | Series A - Upwards | Valuation | Shunwei Capital | |
| Nov, 2017 | Amount | Seed - Upwards | Valuation | India Quotient |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Upwards
Upwards has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Lendingkart, India Quotient and Shunwei Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital fund focused on mobile, internet, deep technology, rural internet, AI, and multiple sectors
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Founded Year | Domain | Location | |
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Mayfield is focused on AI innovation and venture capital investments.
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Founded Year | Domain | Location | |
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Investment in Indian startups across technology and fintech sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Upwards
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Upwards
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Upwards Comparisons
Competitors of Upwards
Upwards operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Kissht, Stashfin, Money View, CASHe and True Balance, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Personal, business, and property loans are provided by Kissht.
|
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| domain | founded_year | HQ Location |
Digital lending and instant credit lines are provided to individuals.
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| domain | founded_year | HQ Location |
Loans, credit cards, gold investments, insurance, and UPI are provided.
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| domain | founded_year | HQ Location |
Online instant personal loans are provided to salaried professionals.
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| domain | founded_year | HQ Location |
Personal loans and prepaid instruments are provided via mobile wallet.
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| domain | founded_year | HQ Location |
Provider of a digital lending platform offering instant personal loans to underserved youth, providing financial solutions through a mobile app
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Upwards
Frequently Asked Questions about Upwards
When was Upwards founded?
Upwards was founded in 2017.
Where is Upwards located?
Upwards is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Upwards a funded company?
Upwards is a funded company, having raised a total of $5.5M across 2 funding rounds to date. The company's 1st funding round was a Seed of $501.68K, raised on Nov 07, 2017.
How many employees does Upwards have?
As of Apr 01, 2024, the latest employee count at Upwards is 39.
What is the annual revenue of Upwards?
Annual revenue of Upwards is $775.69K as on Mar 31, 2023.
What does Upwards do?
Instant personal loans are offered by Upwards across India, catering to various needs such as travel, education, medical emergencies, and home renovation. Services are extended to over 200 cities with a focus on quick approval and minimal documentation. Affordable interest rates and flexible repayment tenures are emphasized in their offerings. The financial solutions are disbursed through RBI-registered NBFCs, ensuring regulatory compliance. Digital processes are utilized for a paperless experience, enhancing customer convenience in the consumer finance sector.
Who are the top competitors of Upwards?
Upwards's top competitors include Stashfin, Money View and Kissht.
What products or services does Upwards offer?
Upwards offers Personal Loan, Travel Loan, and Student Loan.
Who are Upwards's investors?
Upwards has 4 investors. Key investors include Lendingkart, India Quotient, Shunwei Capital, and Mayfield.
What is Upwards's valuation?
The valuation of Upwards is $12.31M as of Aug 2018.
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