According to TechCrunch, LendUp has raised $14 million in new funding from Google Ventures, QED (a firm that includes the founder of Capital One) and Data Collective.

LendUp exists for the working Americans who currently use payday loans or cash advance products, because they lack the access to better, safer financial loans. 14 million people a year turn to payday loans when they find themselves in need of short-term credit but banks won't lend to them. LendUp is the solution. LendUp borrowers earn access to more money at lower rates over time. The journey starts with the first LendUp loan, and continues with accomplishments such as repaying LendUp loans and completing our free credit education courses.