Upgrade

Renaud Laplanche said that the neobank plans to enter new markets, but not in the near future. The Upgrade management team considers an IPO to be a closer prospect. During the investment round in August 2021, Renaud Laplanche announced that the company would be ready to go public within the next 18 months.

But than economic situation and market conditions changed.

10/2022 interview to Axios:

— You led another company, LendingClub, to an IPO. Is Upgrade on the same path?

— We're continuing to tinker with product and strategies. We're probably going to continue to do that for the next couple of years.

— Last year was red-hot for IPOs. Did you consider it then?

— We didn't. Sometimes folks obsess about the IPO and forget that once you've done the IPO, you have to run a public company. Going public in a hot market is actually not necessarily better because you raise expectations and end up with very high stock prices.

Stock split 2:1 11/2021

The share prices are adjusted to 2:1 due to the shares split