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LendUp gets strategic investment from PayPal and adds to its executive team
LendUp has built business providing personal loans to customers that traditional financial institutions wouldn’t touch. As it looks to expand into credit cards and other services, the company has raised some strategic funding from PayPal and also has expanded its executive ranks. Read More
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“Good guy” loan startup LendUp fined $6.3M for overcharging
LendUp was supposed to be different than the payday loan sharks that rip off the poor when they need emergency cash. But in its early days, LendUp charged customers illegal fees, miscalculated interest rates, falsely advertised loans nationwide that weren’t available there and misled people that borrowing from LendUp would boost their credit score. Now LendUp will have to pay $6.3… Read More
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LendUp fights big banks with $47M for compassionate credit cards
Banks win when the poor lose. Credit cards can trap people in debt and bleed them dry with late fees. But it’s this exploitative experience that makes banks vulnerable to fintech startups like LendUp that are willing to undercut them and make up margin with software efficiency. It’s that strategy of building an enduring consumer banking brand on the principle of compassion that… Read More
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LendUp Scores $150M For A Credit Card That Won’t Screw You Over
Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card. Not only is software eating finance, but morality is too. LendUp’s slogan is “Ladders Not Chutes”. Building a business that doesn’t try to exploit everyone has not only brought it years of double-digit monthly growth. LendUp has now… Read More
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