Travel financing startup Uplift has announced that it has raised USD 123 million in Series C funding, which was led by Madrone Capital Partners.
Other companies that participated in this funding round are Draper Nexus, Ridge Ventures, Highgate Ventures, Barton Asset Management, and PAR Capital. Previously, Uplift raised USD 23 million in funding.
The startup works with partners like Allegiant Travel Company and Kayak to offer financing to travellers, allowing them to pay for their trips in monthly instalments. Moreover, the payment option Uplift Pay Monthly has been adopted by travel brands and can be found, for example, on the vacation package sites of United Airlines, American Airlines, JetBlue Airways, and Southwest Airlines.
The new funding aims to allow Uplift to bring on new partners, offer new services, and grow the business. At the same time, the startup will remain focused on travel and on reaching consumers through its partners rather than launching a marketplace of its own.