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Upgrade acquires travel-focused BNPL startup Uplift for a song

July 27, 2023

Upgrade, a provider of personal credit lines and other consumer financial products, today announced that it’s agreed to acquire Uplift, the buy now, pay later (BNPL) vendor, for $100 million in cash and stock.

It’s likely not the exit Uplift was hoping for — and a sign of serious consolidation in the BNPL space, which just a few years ago was booming, buoyed by pandemic-era spending habits. Uplift had raised nearly $700 million in equity and debt, securing $123 million at a reported $195 million valuation in its Series C round alone.

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