Fundraising Fox

Upper90

Venture debt

Providence · Seed–Series B · 23 people tracked

Also known as UPPER90 CAPITAL MANAGEMENT, LP

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Investment thesis

Upper90 is a credit-led hybrid firm that invests across the capital stack, combining debt and equity to fund capital-intensive e-commerce and fintech startups with predictable revenue or asset collateral. It typically provides $5-25M credit facilities that can scale to $250M+ for Seed through Series B companies, sizing based on asset performance rather than equity raised. The firm offers corporate and asset-based loans, preferred equity, and other creative structures so founders can scale while retaining more ownership. Its network of 300+ business-builder limited partners helps portfolio companies with diligence, customer acquisition, and talent, positioning Upper90 as a long-term strategic partner rather than a purely financial one.

Invests inE-commerceFintechSector AgnosticCanadaUnited States

Source: firm website, verified Aug 25, 2026.

Stage
Seed–Series B
Check
$5M – $25M
HQ
Providence, Rhode Island, US
Leads rounds
Leads
Instruments
Debt · Equity
Founded
2018
Last 12 months
1 investment
AUM
$1.1B
Tracked investments
60

Team · 23 people

from the firm's website
Dallin Rosdahl· Managing Directorin
Danny Rosen· Vice Presidentin
Drew Pelletier· Vice Presidentin
Eric Chang· Vice Presidentin
Trey Cobb· Principalin
Adam Wittenberg· Controllerin
Brynne Rozzi· Investor Relations Analystin
Christine Connelly· Chief of Staffin
Connor Hoisington· Associatein
Joey Peracchia· Associatein

Founder mafia

2 people who came through Upper90 went on to found or lead other companies.

What they invest in

from 52 of 60 portfolio companies

Fintech ×27SaaS ×18AI & Machine Learning ×15Consumer ×10E-commerce ×10Enterprise Software ×7Direct to Consumer ×5Marketplaces ×5

HQs:United States×23Mexico×2Canada×1Germany×1United Kingdom×1

Who they back

founder profiles across 28 portfolio companies
39%
solo founders
11 of 28 mapped founding teams
63%
repeat founders
of 19 founders with career history

Founding team size:solo founder×112 founders×83 founders×54+ founders×4

Where their founders studiedfrom 21 founders with education data

Stanford University ×3Stanford University Graduate School of Business ×2The Johns Hopkins University ×2

Where their founders worked beforefrom 19 founders with career history

Goldman Sachs ×4Axon ×2Concord ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

3 hold an MBA (of 21 with degree data)

Investments · 60 tracked

founders shown can be your intro path

By year:2025 · 12024 · 22023 · 12022 · 12021 · 27 dated

10Club10club.team
160Drivingacademy160drivingacademy.comin𝕏

160 Driving Academy is a commercial driver's license (CDL) training school that prepares students to become professional truck drivers.

EdTech

Acquacqu.coin𝕏

Acqu.co acquires online businesses from sellers, offering a due diligence process, flexible deal structures, and post-acquisition payouts.

B2B MarketplacesE-commerce

Co-investorsCrossbeam Venture Partners

Applauseapplause.comin𝕏

Applause provides fully managed software testing services that combine a global community of over 1.5 million testers with AI and automation to validate web, mobile, and AI-powered applications.

AI & Machine LearningEnterprise SoftwareSaaS

Doron Reuveni(Founder)in

Co-investorsHarmonic Growth PartnersQuestMark PartnersWessel ManagementCredit SuisseGoldman SachsLongworth Venture Partners+1 more

Authenticauthenticinsurance.cominSep 2023 · $5.5M

Authentic builds technology infrastructure for specialized insurance programs, enabling brokers and carriers to develop tailored coverage for specific niches and classes.

Enterprise SoftwareInsurTech

Cole Riccardi(CEO & Cofounder)Kyle Babirad(COO & Cofounder)Saravana Kumar(CTO)

Co-investorsAltai VenturesClocktower VenturesCommerce VenturesCore Venture CapitalSlow VenturesBlackRock+6 more

Beaconbeacon.com

Beacon provides a platform that delivers real-time visibility and standardized data across supply chains through a unified dashboard for shippers, manufacturers, and retailers.

AI & Machine LearningData & InfrastructureEnterprise SoftwareLogistics & Supply ChainSaaSLondon, GB

Dan Fletcher(Cofounder)Aerica Banks(Cofounder)Dmitri Izmailov(Founder)Fraser Robinson(Founder)

Co-investorsManta Ray Ventures8VCRed Sea Ventures

CapitalOScapitalos.comin

CapitalOS provides embedded financial infrastructure that lets software platforms offer business credit and pre-funded cards, spend controls, bill pay, cash management, and automated invoicing to their users.

Enterprise SoftwareFintechSaaS

Nir Dremer(Co-founder)inMatan Goldschmiedt(Co-founder)in

Castfinancecastfinance.com

Cast is an outsourced finance service providing bookkeeping, accounting, CFO advisory, billing, invoicing, payroll, and tax work, supported by proprietary technology that integrates with clients' existing software.

FintechSaaS

Co-investorsHannah Grey VenturesService Provider Capital

Clearcoclear.coin𝕏

Clearco provides funding to e-commerce businesses based on their sales data and revenue performance.

Direct to ConsumerE-commerceFintech

Michele Romanow(Founder)inTanay Delima(Founder)Ivan Gritsiniak(Founder)in

Co-investorsBetter Tomorrow VenturesBow CapitalFounders Circle CapitalFrontline VenturesGarage CapitalInovia Capital+6 more

Clutchclutch.cain𝕏

Clutch is an online used-car retailer that buys, inspects, reconditions, and sells certified used cars directly to consumers, offering instant cash offers for sellers and financing for buyers.

E-commerceMarketplacesMobility & Transportation

Stephen Seibel(Founder)inDan Parkin

Co-investorsCanaan PartnersPanache VenturesAlkeon CapitalAltos VenturesAndreessen HorowitzBMO Capital Partners+9 more

Coastline Academycoastlineacademy.comin𝕏

Coastline Academy is a driving school that teaches first-time and returning drivers, offering certified instructors, customized lesson plans, and driving-test coaching.

ConsumerEdTech

Co-investorsGreybull Stewardship LLC

Comfreightcomfreight.comin𝕏Feb 2021

ComFreight offers digital invoice factoring and debt-free financing for freight companies, providing same-day or next-day payments while eliminating credit and non-payment risk.

FintechLogistics & Supply ChainSaaSLong Beach, US

STEPHEN RICHARD KOCHAN(Executive Officer, Director)

Crusoe Energycrusoe.aiin𝕏

Crusoe builds energy-first AI infrastructure, using innovative and renewable energy sources to power hyperscale AI factories and a cloud platform for AI workloads.

AI & Machine LearningCloud ComputingEnergyDenver, US

Cully Cavness(Co-founder, President and Chief Strategy Officer)inChase Lochmiller(Co-founder, CEO and Chairman of the Board of Directors)in

Co-investorsAbstract VenturesACTIVATE CAPITAL PARTNERSAdvaita CapitalAir Street CapitalAlkeon InnovationAvenir Growth Capital+33 more

Dandymeetdandy.comin𝕏

Dandy is a digital dental laboratory that provides AI-powered technology and software to dental practices, offering services including crowns, bridges, dentures, implants, and clear aligners.

AI & Machine LearningHealthtechMedical Devices

Daniel Hanover(Founder)inToni Oloko(Cofounder)

Co-investors3cubed VenturesAvenir Growth CapitalDorm RoomHuman CapitalInspired CapitalMantis Capital+9 more

Deep Infradeepinfra.comin𝕏Nov 2024

DeepInfra provides inference infrastructure for deploying open-source AI models at scale, built from GPU hardware to API layer.

AI & Machine LearningCloud ComputingData & InfrastructureDeveloper ToolsPalo Alto, US

Nikola Borisov(Founder and CEO)inYessenzhar Kanapin(Founder)inGeorgios Papoutsis(Founder)in

Co-investorsA.Capital VenturesChamaeleonCRESCENT COVE CAPITALFelicis Ventures500 GlobalNVIDIA+2 more

E2Loge2log.com

Sugar Land, US

Adolph Peter Colaco(Chief Executive Officer and Director)Allen Melton(Chief Commercial Officer)Bruno Sidler(Director)

Co-investorsF-LOG Ventures

Elevatebrandselevatebrands.comin𝕏

SellerX is a "House of Brands" that acquires and operates consumer product brands, originally focused on Amazon sellers and expanding into an omni-channel model.

ConsumerDirect to ConsumerE-commerce

Figfigloans.comin𝕏

FintechGamingSugar Land, US

Co-investorsAccess VenturesTechstarsTen ElevenTeam8

Filmrisefilmrise.com

FilmRise distributes and streams film and television content, including new releases, catalog titles, true crime programming, and creator-focused series.

Media & Entertainment

Finleyfinleycms.comin𝕏Nov 2022Acquired

Finley provides software to banks and asset managers that automates debt capital management, due diligence, compliance, and reporting for asset-backed finance, private credit, and structured finance.

Enterprise SoftwareFintechSaaSSan Francisco, US

Jeremy Tsui(Founder)inKevin Suh(Founder)inJosiah Tsui(Founder)in

BoardJames Green(Director)in

Co-investorsCRV (Charles River Ventures)Y CombinatorBain Capital VenturesHaystackTwenty Two Ventures

General Compute Startupgeneralcompute.com

General Compute runs large language model inference on ASIC-based hardware instead of GPUs, offering an OpenAI-compatible REST API with higher throughput and lower latency for developers and coding agents.

AI & Machine LearningCloud ComputingHardware

Co-investorsFUSENZVCStrategxy Ventures LLC

Getamplagetampla.comin𝕏

FundThrough is an AI-enabled invoice factoring platform that pays out businesses' outstanding invoices ahead of net terms, providing working capital tied to unpaid retailer and customer invoices.

AI & Machine LearningFintechSaaS

Getbraavogetbraavo.comin𝕏

Braavo Capital provides non-dilutive financing to mobile-first app businesses, offering structured credit lines and strategic debt facilities of $2–5 million for mature companies.

FintechSaaS

Co-investorsUpstage Ventures

Gynger INCUBATED FinTech New Yorkgynger.ioin𝕏

Gynger provides non-dilutive capital to startups to purchase software and infrastructure tools, combining financing with software procurement to help businesses manage cash flow without equity dilution or traditional lending requirements.

AI & Machine LearningFintechSaaS

Co-investorsDeciensGradient Venturesm]x[v CapitalVelvet Sea VenturesVine VenturesPayPal Ventures

Heroesmakeheroes.coin

A commerce company that sells and expands consumer products across Amazon, direct-to-consumer channels, and retail stores, managing customer touchpoints and international expansion.

Direct to ConsumerE-commerceRetail TechWhite Bear Lake, US

Co-investorsalphabet angelsD4 VenturesDIP CapitalFuel VenturesPerivoli InnovationsPROOF+2 more

Highlinehighline.coin𝕏

Highline operates a payment network that automatically splits and routes bill payments directly from consumers' paychecks at payroll time, so bills are paid before direct deposit.

FintechSaaS

HumanCohumanco.comin

HumanCo invests in and incubates mission-driven consumer companies in categories such as food and beverage, beauty, personal care, household products, and consumer health technology, focusing on better-for-you products that help people live healthier lives.

ConsumerFoodTechImpact & Social GoodWellness & Fitness

Jason H. Karp(Founder & CEO)in

Co-investorsJAZZ Venture PartnersPLUS CapitalPoint King CapitalBullishCAVU Venture PartnersRocana Ventures

Januaryjanuary.comin

January builds an AI-driven debt collections and recovery platform that consolidates fragmented data, automates most consumer interactions, and enforces compliance rules automatically.

AI & Machine LearningFintechSaaS

Jake Cahan(Founder)in

Co-investorsBrewer Lane VenturesReciprocal VenturesThird Prime

Kafenekafene.com

Kafene provides lease-to-own financing at the point of sale, using an application process based on 20,000+ data points to approve customers regardless of credit history.

ConsumerFintechRetail TechNew York, US

Neal Desai(Co-founder)inJames Schuler(Co-founder)

BoardKeith Hamlin(Director)inWesley Barton(Director)in

Co-investorsFlucas VenturesThird PrimeTrinity Capital

Karat Financialtrykarat.comin𝕏

Karat provides financial products and credit solutions for creators and entrepreneurs.

Creator EconomyFintechLos Angeles, US

Will Kim(Founder)inEric Wei(Founder)in

Co-investorsCoatue ManagementCommerce VenturesJustin “3LAU” BlauNotable CapitalSignalFireUnion Square Ventures (USV)+3 more

Kloverjoinklover.com𝕏

Klover provides early access to earnings, budgeting tools, and rewards to help users manage debt and improve credit without interest charges, credit checks, or hidden fees.

FintechHighland Park, US

Brian S Mandelbaum(Executive Officer, Director)

Co-investorsCore Venture CapitalLightbankStarting Line

Kontempokontempo.ioinNov 2021

Kontempo offers B2B payments and credit management software that lets companies extend credit to their business customers, automate collections, and analyze creditworthiness using AI.

AI & Machine LearningFintechSaaSCiudad De Mexico, MX

Matthew Meehan(Executive Officer)

Co-investorsIGNIALatitud VenturesMS&AD VenturesPolymath VenturesTectonic VenturesPortage Ventures

LedgerWaytheledgerway.comin

LedgerWay is an accounting firm providing tax preparation, bookkeeping, proactive tax strategy, IRS audit representation, and fractional CFO advisory services.

FintechSaaS

Linalina.coin

Lina offers private, customizable clinical and office spaces for healthcare practitioners and groups, available for lease long-term or booked by the day or hour.

HealthtechPropTech

Co-investorsMSW CapitalPath VenturesBloomberg Beta

Mainfactormainfactor.comin

A creative and commerce agency that develops direct-to-consumer merchandise drops and branded content for music artists, including hip hop groups and individual performers.

Direct to ConsumerE-commerceMedia & Entertainment

MoneyLionmoneylion.comin𝕏Acquired

MoneyLion is a financial technology company offering consumer banking products including spend accounts, savings accounts with variable APY, a debit Mastercard with cash back rewards, and a membership plan with added services and insurance benefits.

ConsumerFintechMarketplacesNew York, US

Diwakar Choubey(President, Chief Executive Officer and Assistant Secretary)Pratyush Tiwari(Chief Information Officer and Treasurer)Chee Mun Foong(Chief Technology Officer)Dee Choubey(Founder)inTim Hong(SVP, Marketing & Product)Richard Correia(Chief Financial Officer and Secretary)

Co-investorsClocktower VenturesConvergeEdison PartnersFinTech CollectivePruVen Capital PartnersDanhua Capital+2 more

Mountthormountthor.com
Mundimundi.ioin𝕏

Mundi provides flexible financing solutions for Mexican exporters, including invoice factoring, purchase order advances, and revolving credit lines.

FintechMexico City, MX

Martin Pustilnick(Founder)inJuan Carlos Christensen(Founder)

Co-investorsAlleyCorpGMO VenturePartnersHaymaker VenturesSquareOne CapitalUnion Square Ventures (USV)Alley Robotics Ventures

Naturalnatural.coin𝕏

Natural builds payment infrastructure ("rails") designed for AI agents to execute transactions autonomously.

AI & Machine LearningDeep TechDeveloper ToolsFintechSan Francisco, US

Kahlil(Founder)Walt Leung(Founder)inEric Wang(Founder)in

Co-investorsAbstract VenturesAntiFinancial Venture StudioForerunner VenturesMirana VenturesRestive Ventures+4 more

Neonneonmoneytalks.com

Neon is a mobile app platform that lets users monetize their phone call data by sharing it with AI companies for model training, while maintaining control over their personal information.

AI & Machine LearningConsumer

Alex Kiam(Founder)

Co-investorsPerceptive Ventures Management Company, LlcLightspeed Venture PartnersUpfront Ventures

Neonneon.ai

Neon AI builds private, fine-tuned large language model systems that let enterprises deploy panels of specialized AI "experts" alongside human specialists for auditable, multi-agent decision-making via its CCAI product.

AI & Machine LearningEnterprise SoftwareSaaS

Co-investorsAndreessen HorowitzKraftonRenegade Partners

Nooksnooks.worksin

Nooks provides industrial security services—including Facility Security Officer (FSO), Personnel Security (PERSEC), and Program Security support—to help companies obtain and maintain security clearances and access secure facilities.

Defense TechGovTechArlington, US

Sean Blackman(Founder)

Co-investorsZigg CapitalKleiner PerkinsLachy GroomLockheed Martin VenturesStifel Venture BankingTola Capital

Octane Lendingoctane.coinDec 2025 · $100M

Octane offers financing for recreational and powersports vehicles such as motorcycles, ATVs, and mowers, letting consumers check their rate with a soft credit pull.

ConsumerFintechMarketplacesNew York, US

Jason Guss(Executive Officer, Director)Mark Davidson(Executive Officer)Maria Aveledo(Executive Officer)Mark Molnar(Executive Officer)Murali Vajjiravel(Executive Officer)Sean Fernandez-Ledon(Executive Officer)

Co-investorsChaos VenturesContour Venture PartnersFundersClubInterplay Ventures Early Stage Management LlcThird PrimeValar Ventures Llc+2 more

Outgooutgo.comin𝕏

Outgo provides invoice factoring for trucking businesses and owner-operators, offering fast payment on invoices and a debit card that lowers factoring rates.

FintechLogistics & Supply Chain

Marcus Womack(Founder)inRay Fortna(Founder)in

Co-investorsGradient VenturesOperator Stack

PayJoypayjoy.comin

PayJoy provides financial services and credit access to unbanked and underbanked populations in emerging markets across Africa, Asia, and Latin America.

B2B MarketplacesFintechImpact & Social GoodRetail TechSan Francisco, US

Mark Heynen(Co-Founder & Chief Business Officer)Doug Ricket(Co-Founder & CEO)Gib Lopez(Co-Founder & COO)inTom Ricket(Co-Founder)Nick Zakrasek(President, Product Development)Amy Pardee(General Counsel)

Co-investorsCeniarthCiti VenturesCompoundCore Venture CapitalDnx VenturesEchoVC Partners+17 more

Rally Rdrallyrd.com𝕏

Rally is an investment platform that lets people buy and sell equity shares in collectible assets, which are securitized into individual companies and offered as shares through registered broker dealers.

FintechMarketplacesNew York City, US

Maximilian Niederste-Ostholt(Founder)

Co-investorsAccelAnthemis VentureKDDI Open Innovation FundRaptor GroupRed Beard VenturesRelay Ventures+2 more

Razor Grouprazor-group.comin𝕏

Razor Group operates a portfolio of e-commerce brands, handling global procurement, supply chain, and logistics as well as acquiring and scaling online consumer product companies.

ConsumerE-commerceLogistics & Supply ChainBerlin, DE

Tushar Ahluwalia(Co-Founder & Chief Executive Officer)Shrestha Chowdhury(Co-Founder & Chief Technology Officer)inDr. Oliver Dlugosch(Co-Founder & Chief Operating Officer)Christoph Felix Gamon(Co-Founder & Chief Financial Officer)inTushar A.(Founder)inMaximilian Biller(Chief Executive Officer)

Co-investorsAlstin CapitalCoastCapLatin LeapSimon Capital468 CapitalPresight Capital+1 more

Rechargedrecharged.comin

Recharged is an online marketplace for buying and selling certified pre-owned electric vehicles, offering battery health assessments, vehicle history reports, market-based pricing, CPO warranty coverage, at-home charging equipment, nationwide delivery, and a return period.

E-commerceMarketplacesMobility & Transportation

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Settlesettle.comin𝕏

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E-commerceEnterprise SoftwareFintechSaaSSan Francisco, US

Nish Samantray(Co-Founder)Greg Davidson(CEO & Co-Founder)Alek Koenig(Founder)in

Co-investors1/1 CapitalActivant CapitalBetter Tomorrow VenturesDarco CapitalData Point CapitalEvolution Ventures+3 more

Stax Engineeringstaxengineering.comin

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CleantechClimate TechHardware

Mike Walker(CEO)

Co-investorsFirstime VenturesPEGASUS CAPITAL

Stryzestryze.com
Sunboundsunboundhomes.comin

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FintechHealthtechSaaS

Co-investorsBling CapitalFikaMu VenturesTTV Capital

Superordinarysuperordinary.co
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AI & Machine LearningCybersecurityFintechSaaS

Sandrine Cousquer-Okasmaa(Founder)in

Co-investorsCostanoa VenturesIGNIAMontage VenturesQuiet Capital

Thrasiothrasio.comin𝕏

Thrasio is an ecommerce and technology company staffed by ecommerce and tech specialists focused on improving products and consumer experiences.

ConsumerDirect to ConsumerE-commerce

Co-investorsAct One VenturesEvolution VC PartnersFikaRiverPark VenturesSilver Lake PartnersVershina Capital

Toolboxtrytoolbox.com

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Trusttrust.co

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Uproxxuproxx.comin𝕏

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ConsumerCreator EconomyMedia & Entertainment

Co-investorsMultiplier Capital

Wurthywurthy.coinDec 2024

Wurthy is a finance operating platform for small businesses that connects accounting, banking, billing, payroll, and payments systems into one live, verified financial picture covering cash, AR, AP, liquidity, and the ledger.

AI & Machine LearningFintechSaaSLarkspur, US

Rudd Davis(Executive Officer, Director)in

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Upper90 made?
Upper90 has 59 tracked investments, 1 of which have exited via acquisition or IPO, including 3 dated in the last 24 months.
What stage does Upper90 invest at?
Upper90 invests at the Seed, Series A, Series B stages.
What is Upper90's typical check size?
Upper90 typically writes checks of $5M – $25M.
What sectors does Upper90 focus on?
Upper90 focuses on E-commerce, Fintech, Sector Agnostic.
Where is Upper90 located?
Upper90 is headquartered in Providence, US.
Does Upper90 lead rounds?
Yes, Upper90 leads investment rounds.
Who does Upper90 co-invest with?
Upper90 most often shares deals with Core Venture Capital, Third Prime, Union Square Ventures (USV), among 190 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Billy Libby: Upper90

Sutton Capital: THE INVESTOR with Joel Palathinkal · Billy Libby

New school lending in the venture ecosystem - a conversation with Billy Libby of Upper90

Random Walk · Billy Libby

Venture Capital is a Team Sport - Billy Libby, CEO of Upper90

Miguel Armaza · Billy Libby

Things Are Never as Good or as Bad As You Expect - CEO of Upper90, Billy Libby

Miguel Armaza · Billy Libby

The Future of Debt, Credit, & Venture Capital - Billy Libby, CEO of Upper90

Miguel Armaza · Billy Libby

Unlocking Capital: The Power of Venture Debt for Startups with Billy Libby of Upper90

Mark Peter Davis · Billy Libby

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