Upgrade Inc., a lending startup that counts former LendingClub Corp. executive Renaud Laplanche as a co-founder, raised $105 million in a funding round that values the company at more than $3.3 billion.
The round was led by Koch Disruptive Technologies, the investment arm of Koch Industries, Upgrade said in a statement Wednesday. The startup is profitable, according to Laplanche, meaning that there wasn’t an urgency in raising the new round.
