Uplift, a platform that allows travel brands to offer part-payments to users, has finalized a $250 million credit warehouse with Credit Suisse.
The credit facility will help Uplift continue to grow across the travel industry and expand its lending capacity to more than $1 billion.
Uplift president Rob Soderbery says: “This will help more people travel and further our mission of making travel more accessible, affordable and rewarding for everyone.”
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The California-based company integrates its pay monthly service within a travel brand’s booking and payment flow enabling consumers to pay for trips over a period of time.
Uplift recently added Carnival Cruise Line and United Airlines to the brands offering its monthly payment service.
The company, which also counts Norwegian Cruise Line and Royal Caribbean Cruises as partners, raised $123 million in Series C funding in January 2019.
The Series C followed a $90 million investment in late 2017 which included $15 million equity investment and a $75 million credit facility.