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IndustryConsumer Finance
  • Sasha Orloff (CEO)
  • Jake Rosenberg (CTO)
HeadquartersSan Francisco, California
Area served
Key people
  • Bill Donnelly (CFO)
  • Vijesh Iyer (COO)
  • Nigel Morris (Board Chair)
  • Frank Rotman (Board Member)
  • Blake Byers (Board Member)
Productscredit cards; single-payment, short-term loans; installment loans
Number of employees
approx. 250 (Q3, 2018)

LendUp is a financial technology company that provides loans and credit cards, as well as financial education, access to credit reporting and gamification for responsible lending behavior.[1][2]


LendUp graduated out of the Y Combinator batch of 2012.[3] It has received $325 million in equity and debt financing from PayPal,[4]Kleiner Perkins Caufield & Byers, Google Ventures, Andreessen Horowitz, Alexis Ohanian and QED among others.[1][5][6][7][8]

In August, 2016 LendUp announced its Series C round of equity, led by Y Combinator.[9]

In March, 2017, LendUp announced it received a $100 million credit facility from Victory Park Capital and surpassed $1 billion in loan originations.[10]


LendUp's co-founders are step brothers Sasha Orloff and Jake Rosenberg. Through school and early jobs they went separate ways. Orloff worked in consumer credit and then venture capital at Grameen Bank, World Bank and Citi. Following an internship at 16, Rosenberg became Yahoo! employee #80 and stayed for more than a decade, before joining Zynga as a platform CTO at 29. In the summer of 2011 Orloff asked Rosenberg to join him to found LendUp. They sought to solve problems with the financial services industry, which Rosenberg claimed could be solved through technology.[11][12]


LendUp loans to customers that banks usually decline,[13] giving borrowers with poor credit scores access to credit cards and short term loans.[14] Many of the loans offered by the company represent an alternative to payday loans for customers.[15] LendUp's two Visa cards are issued by TAB Bank and Beneficial State Bank. They feature longer-than-usual grace periods before late fees kick in, and interest rates range from about 20 to 30 percent on credit lines up to $2,000. The card business is growing more quickly than the firm's lending product.[16] LendUp has called its customers “the emerging middle class.”[17] Its customers generally have credit scores below 680.[18]

Nigel Morris, co-founder of Capital One and QED Investors, serves as LendUp's Board Chair.[16] Other Board members include QED co-founder Frank Rotman, an early Capital One Financial Corp. executive and its long-time chief credit officer, and Blake Byers of GV.[19]

Board advisors include Carrie Dolan, Ali Rowghani, and others.[20][21]

In September 2016 LendUp was fined by the Consumer Financial Protection Bureau and a California state regulator over widespread violations of payday- and installment-lending laws and agreed to pay $6.3 million in penalties and customer repayments. The CFPB found that the company didn't give consumers the opportunity to build credit or access to cheaper loans in certain states, as it had claimed it would.[15][22]

In May 2017, LendUp announced plans to quadruple the number of credit cards available to consumers through its partnership with Beneficial State Bank.[23][24] As of May 2018, the company had surpassed this goal.[19]

In June 2017, LendUp and the Aspen Institute Financial Security Program launched Finance Forward, alongside Mayor Stephen K Benjamin of Columbia, SC. Finance Forward is a multi-city event series that brings together elected officials, businesses, community advocates and nonprofit leaders to identify and advance actionable solutions to the growing problem of income volatility in the U.S.[25][26]

In November, 2017, the company announced that former Tesla executive William Donnelly joined as CFO.[27]


  1. ^ a b Gannes, Liz. "Kleiner Perkins, Andreessen Horowitz and Google Ventures Fund Payday Loan Alternative LendUp". October 10, 2012. All Things D. Retrieved 6 August 2013.
  2. ^ Brancaccio, David (October 11, 2012). "The online game of borrowing money". Marketplace. Retrieved 2018-09-16.
  3. ^ "Winter 2012 Companies (YC W12) | Y Combinator Universe". ycuniverse.com. Retrieved 2018-04-22.
  4. ^ Lawler, Ryan. "LendUp gets strategic investment from PayPal and adds to its executive team". Techcrunch. Retrieved 2018-09-18.
  5. ^ "LendUp Closes $100M Credit Facility | PYMNTS.com". www.pymnts.com. Retrieved 2017-03-04.
  6. ^ Constine, Josh (January 22, 2016). "LendUp Scores $150M For A Credit Card That Won't Screw You Over". Techcrunch. Retrieved 2018-09-16.
  7. ^ Rudegeair, Peter (May 14, 2018). "Former Citigroup CEO Vikram Pandit Makes $100 Million Investment in Credit-Card Startup". Wall Street Journal. Retrieved 2018-09-16.
  8. ^ Rao, Leena. "LendUp Raises Cash From Kleiner Perkins, Andreessen Horowitz, Google Ventures And Others To Disrupt Payday Loans". Techcrunch. Retrieved 2018-09-16.
  9. ^ Rudegeair, Peter; Demos, Telis (2016-08-23). "Silicon Valley Lender Raises Nearly $50 Million for Subprime Credit-Card Push". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-03-04.
  10. ^ "LendUp Closes Another $100 Million Credit Facility & Surpasses $1 Billion In Loan Originations". Retrieved 2017-03-04.
  11. ^ Blackwell, John Reid (September 2, 2017). "Online lending firm LendUp sees growth opportunity in Richmond area". Richmond Times-Dispatch. Retrieved 2018-09-16.
  12. ^ Terzo, Gerelyn (July 25, 2017). "PayPal & LendUp Bridge Financial Inclusion Gap". deBanked. Retrieved 2018-09-16.
  13. ^ Farr, Christina. "LendUp Uses 'Big Data' to Bring Better Small Dollar Loans To People In Need Better". October 10, 2012. VentureBeat. Retrieved 6 August 2013.
  14. ^ Empson, Rip (21 June 2013). "Aiming To Disrupt Payday Lending, a16z-Backed LendUp Now Offers Instant Online And Mobile Loans". Techcrunch. Retrieved 8 January 2016.
  15. ^ a b Jayakumar, Amrita (30 September 2016). "Payday loan alternative LendUp to pay $6.3 million for misleading customers". The Christian Science Monitor. Retrieved 11 July 2018.
  16. ^ a b Verhage, Julie and Surane, Jennifer (June 21, 2018). "Capital One Co-Founder Is Making a Bet on Risky Borrowers". Bloomberg Business Journal. Retrieved 2018-09-16.CS1 maint: Multiple names: authors list (link)
  17. ^ "Exclusive: S.F. fintech raises $100 million for subprime lending". www.bizjournals.com. Retrieved 2018-04-22.
  18. ^ "LendUp Scores $150M For A Credit Card That Won't Screw You Over – TechCrunch". techcrunch.com. Retrieved 2018-09-16.
  19. ^ a b Mark Calvey (June 21, 2018). "San Francisco fintech LendUp adds star power to boardroom". San Francisco Business Times. Retrieved 2018-09-16.
  20. ^ "Jake Rosenberg of LendUp with Ali Rowghani". Y Combinator YouTube channel. January 31, 2018. Retrieved 2018-09-16.
  21. ^ Mark Calvey (June 28, 2017). "LendUp picks up PayPal as investor, Carrie Dolan as adviser". San Francisco Business Times. Retrieved 2018-09-16.
  22. ^ Wall Street Journal (September 28, 2016). "Lender ordered to pay total $6.3 million over payday-loan and installment-lending violations".
  23. ^ "LendUp launches a better credit card for people looking to improve their credit – TechCrunch". techcrunch.com. Retrieved 2018-04-22.
  24. ^ "LendUp Gives the Underbanked What No Traditional Bank Will - Finovate". Finovate. 2017-05-17. Retrieved 2018-04-22.
  25. ^ "LendUp Finance Forward Cash Advance Lends Hand | PYMNTS.com". www.pymnts.com. Retrieved 2018-04-22.
  26. ^ "A Conversation with Lendup's CEO Sasha Orloff and Vice President Jotaka Eaddy". The Financial Revolutionist. Retrieved 2018-04-22.
  27. ^ Wack, Kevin (November 7, 2017). "Former Tesla VP joins consumer lending startup". American Banker. Retrieved 2018-04-22.