“This morning Upgrade, a credit-focused fintech startup, announced that it has raised a $40 million Series D round that the companhia says gives it a $1 billion valuation. The Upgrade  round slots neatly into a few trends TechCrunch has noted in recent quarters, including fintech startups raising at new, higher valuations, and some startups seeing sharp valuation growth on the back of comparatively modest raises.

Other startups that have steeply repriced on small investments, in percentage terms, include Notion more than doubling its valuation to $2 billion earlier this year off a $50 million investment.

In its Series D, Upgrade managed to, ahem, update its valuation from $500 million set during its 2018 Series CSantander InnoVentures, the CVC associated with the banking giant Santander, led the latest.”

Read the full article on TechCrunch here.