Upgrade Pack secures £1m in pre-seed funding from angel and institutional backers to build out its team and platform.
The fintech startup raised the capital from high-profile angel and institutional investors to expand its specialist team and deliver its platform.
Upgrade Pack operates a closed online marketplace that connects directly to airline and hotel APIs to provide discounted and exclusive premium upgrades. The platform is distributed through financial institutions and corporate partners as a loyalty reward or employee benefit.
Upgrade Pack has secured £1m in pre-seed funding from high-profile angel and institutional investors, valuing the fintech startup at £6.7m. The capital will be deployed to expand its specialist team and roll out its proprietary platform.
The company connects hospitality providers with consumers seeking discounted access to unsold premium inventory via a mobile application. Following this raise, the firm plans to launch a further £2.3m funding round later in the quarter ahead of an expected market launch in early Q2.
From the founder
"We are delighted to have raised this preliminary capital through the support of individual investors who saw value in what we were creating but can also bring expertise gained across relevant sectors such as loyalty, technology, travel and banking. It’s rare to reach this stage based purely on smaller investors however, having successfully established ourselves in 2018 we look forward to launching our next funding round – and engaging with a broad pool of supporters across investment, legal VC and more – later this quarter, which will take us to our next capital milestone and closer to our launch to market in early Q2."
Craig Unsworth
Group CEO at Upgrade Pack
Use of funds
- 01Grow the team
- 02Continue product development
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About the company
Upgrade Pack
Upgrade Pack provides exclusive flight and hotel upgrades through a loyalty-based membership app.