Upgrade has just authorized a new Series F preferred stock which could increase the valuation to $6.38 billion if all Series F shares are issued. The online lending platform is previously backed by Ventura Capital, Black River Ventures, Koch Disruptive Technologies, Ribbit Capital, Union Square Ventures and Santander InnoVentures to name a few. The most recent Series F round follows $105 million raised for Series E. The terms surrounding the Series F include pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $11.2725, an up round from Series E at $6.4442.
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