We advised Upgrade on the transaction

Davis Polk advised Upgrade, Inc. on its acquisition of Uplift, Inc. for approximately $100 million in a combination of cash and Upgrade common stock. The purchase price is subject to customary adjustments. The transaction signed on July 22, 2023, and closed on July 25, 2023.

Headquartered in San Francisco, California, Upgrade is a financial technology company that offers affordable and responsible credit, mobile banking and payment products to mainstream consumers through cards and personal loans, together with free credit monitoring and education tools that help consumers better understand and manage their finances.

Uplift is a leading “buy now, pay later” provider serving the world’s travel industry. Through personalized, flexible payment options, Uplift’s enterprise-ready offer engine matches consumers with the right payment plan at the right time, helping brands unlock higher conversion while building customer loyalty. Uplift is headquartered in Sunnyvale, California.

The Davis Polk corporate team included partner Alan F. Denenberg, associates Tierney O’Rourke, Julia Molo and Rong (Fiona) Huang. Partner Pritesh P. Shah and associate Brette L. Trost provided intellectual property advice. Partner Adam Kaminsky provided executive compensation advice. Partner Kara L. Mungovan and associate William Liang provided tax advice. Partner Paul D. Marquardt provided CFIUS advice. Members of the Davis Polk team are based in the Northern California, New York and Washington DC offices.