🧵 1. Upgrade acquires Uplift, the travel-focused BNPL startup, for $100M in cash and stock, expanding its reach in consumer finance. Consolidation in the BNPL space continues. #fintech
🧵 1. Upgrade acquires Uplift, the travel-focused BNPL startup, for $100M in cash and stock, expanding its reach in consumer finance. Consolidation in the BNPL space continues. #fintech
🧵 2. Uplift, having raised $700M in funding, offers Upgrade a gateway into the untapped travel segment of the BNPL market. A strategic move to grow distribution and user base.
🧵 3. With Uplift's distribution network of 300 top airlines, cruise lines, and hotels, Upgrade gains a ready-made infrastructure. An opportunity to tap into the $450B annual consumer spending on travel.
🧵 4. Upgrade's CEO sees synergy in aligning Uplift's travel-focused BNPL with their existing financing solutions. Expanding into travel as a new vertical, catering to evolving consumer needs.
🧵 Read more at: https://techcrunch.com/2023/07/27/upgrade-acquires-travel-focused-bnpl-startup-uplift-for-a-song/