Travel Fintech Leader Uplift Raises $250 Million in Credit to Expand Lending Capacity
Tuesday, December 3, 2019 3:00 PM
Additional capital will support Uplift's rapid growth across travel
MENLO PARK, CA / ACCESSWIRE / December 3, 2019 / Uplift, the only point-of-sale financing company focused exclusively on travel, announced today the closing of a $250 million credit warehouse with Credit Suisse.
The $250 million credit line will support Uplift's rapid growth across the travel industry, expanding its lending capacity to more than $1 billion. In the past month alone, Uplift has added United Airlines and Carnival Cruise Line to an already impressive roster of leading travel brands offering the company's flagship product, Uplift Pay Monthly.
"This credit warehouse from Credit Suisse will not only fuel future growth, but also supports our vertical-specific approach," said Uplift President Rob Soderbery. "This will help more people travel and further our mission of making travel more accessible, affordable and rewarding for everyone."
Founded by a passionate team of travel industry veterans, Uplift makes it easy for consumers to budget, buy and experience the travel they want, while helping travel brands reach new customers and increase conversion. Uplift Pay Monthly seamlessly integrates with a travel brand's existing booking and payment processes, giving travelers the freedom to finance their trip and pay over time.
Uplift is now available with leading travel brands throughout the U.S. and Canada, including United Airlines, Carnival Cruise Line, Norweigian Cruise Line, Royal Carribean Cruises, Allegiant Air, Spirit Airlines, Kayak and the vacation package sites of American, Southwest and United, among more than 50 other partners.
In January, Uplift announced a $123-million Series C equity financing round led by Madrone Capital Partners.
This story first appeared in Phocuswire.
Uplift was founded by a passionate team of travel industry veterans to help consumers budget, buy and experience the travel they want. Pay Monthly seamlessly integrates into our partners' booking sites and payment processes to give travelers the freedom to finance their trip and pay over time. By reducing friction from the booking process, Uplift helps travel brands reach new customers and convert more business. Uplift is the only point-of-sale financing company focused exclusively on travel and our AI-driven platform is purpose built for it. Pay Monthly is offered by leading travel brands like United Airlines, Carnival Cruise Line, Kayak, Universal Studios, Southwest Vacations and many more.