Upwardli, a financial technology company offering credit building products for consumers new to credit, announced a $2 million Series Seed funding round led by Dundee Venture Capital, with participation from Techstars, J4 Ventures, Cascade Seed Fund, Avesta Fund, Temerity Capital Partners, Service Provider Capital, and notable angel investors.
Nearly 50 million Americans lack a credit score, according to the Consumer Financial Protection Bureau, a problem that disproportionately impacts those newly arrived to the country and the emerging Gen Z. Without established credit, these consumers are often unable to access basic financial services, from credit cards to car loans.
Upwardli’s founding team of Aaron Gregory and Danielle Hill saw this problem firsthand as early employees at Remitly, the Seattle-based international money transfer company that serves a primarily immigrant customer base.
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