Upwardli Raises $2 Million Seed Round to Expand Credit-Building Tools for Underserved Consumers

Upwardli, a Seattle-based financial technology company focused on expanding access to credit for underserved populations, has raised early-stage funding to support the growth of its inclusive credit-building platform. Founded in 2021 by Aaron Gregory and Danielle Hill, the company is building tools designed to help individuals without established U.S. credit histories—including new immigrants and young adults—gain access to mainstream financial services.

In February 2023, Upwardli announced a $2 million Series Seed funding round aimed at accelerating product development, expanding its team, and scaling partnerships with banks and fintech platforms. The round was led by Dundee Venture Capital, an early-stage venture firm known for backing founders and regions that have traditionally been overlooked by institutional investors. Dundee’s leadership in the round signaled confidence in Upwardli’s mission to address long-standing gaps in the U.S. credit system.

Additional investors in the seed round included Techstars, a global startup accelerator with a strong presence in fintech; J4 Ventures, an early-stage venture capital firm; Cascade Seed Fund, which focuses on seed-stage technology companies; and Avesta Fund, an investor in financial services innovation. The round also included participation from Temerity Capital Partners, Service Provider Capital, and a group of angel investors. Together, this investor group provided both capital and strategic support to help Upwardli advance its products and partnerships.

Upwardli’s core offering, Credit Builder Plus, is designed to help users establish and improve their credit profiles without requiring a traditional credit history or, in some cases, a Social Security number. The product is offered in partnership with regulated financial institutions and allows users to begin building a U.S. credit score while accessing a broader set of banking tools. As users build credit, they can unlock eligibility for additional financial products that are often out of reach for individuals without an established credit file.

The company’s approach is aimed at addressing a widespread challenge in the U.S. financial system. Tens of millions of Americans are considered credit invisible or underbanked, limiting their ability to rent apartments, finance education, or access affordable credit. Upwardli positions its technology as a bridge into the mainstream financial ecosystem by enabling alternative paths to credit building that align with how people actually live and earn.

Following the seed funding, Upwardli announced additions to its board of directors, including representation from Dundee Venture Capital, reinforcing the strategic partnership between the company and its lead investor. Leadership has emphasized the importance of building a diverse and inclusive board that reflects the populations the company serves, aligning governance with its broader mission of financial inclusion.

The company has continued to expand its product capabilities beyond its initial credit-building solution. Upwardli now offers tools such as rent reporting and application programming interfaces that allow partner companies to embed credit-building features directly into their own platforms. This business-to-business approach enables other fintech and technology companies to enhance user engagement while contributing to more inclusive financial outcomes.

Upwardli’s founders bring experience from previous roles in financial technology and have highlighted their focus on reducing friction for consumers navigating complex credit systems. By working closely with financial institutions and technology partners, the company aims to modernize how credit histories are established and maintained, particularly for those entering the U.S. financial system for the first time.

With backing from Dundee Venture Capital and a group of fintech-focused investors, Upwardli is positioned to continue scaling its platform and expanding access to credit-building tools. The seed funding marks a key milestone as the company works to help more consumers establish credit, unlock financial opportunities, and participate more fully in the U.S. economy.