Founded in 2012, LendUp positioned itself as a socially responsible alternative to traditional payday lenders, aiming to help customers build credit and escape cycles of debt. The company used technology to assess creditworthiness beyond traditional FICO scores and offered products like the "LendUp Ladder," which promised access to larger loans at lower rates for repeat customers who repaid on time. However, the company faced significant regulatory scrutiny and was ultimately shut down by the Consumer Financial Protection Bureau (CFPB) in late 2021 for deceptive marketing and violating a prior consent order.

Founded in

United States