Coatue Management and DST Global led a $280m Series F funding round in Upgrade.

Coatue Management, a global investment manager, and DST Global, an Internet investment firm, led a $280m Series F funding round in Upgrade, a fintech company that offers affordable and responsible credit and mobile banking. Additional investors include Dragoneer Investment, Gopher Asset Management, G-Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital and Vy Capital. “Upgrade is an exciting example of a credit-led neobank. Credit is a key component of banking and has been a major source of revenue for banks. We are excited by Upgrade’s innovative credit products that we believe can help the company capture a significant share of the mobile banking market," Philippe Laffont, Coatue Management Founder and CEO.