Upper90
Venture debtProvidence · Seed–Series B · 23 people tracked
Also known as UPPER90 CAPITAL MANAGEMENT, LP
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.
Source: firm website, verified Aug 25, 2026.
Team · 23 people
from the firm's websiteFounder mafia
2 people who came through Upper90 went on to found or lead other companies.
What they invest in
from 52 of 60 portfolio companiesFintech ×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 companiesFounding 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
3 hold an MBA (of 21 with degree data)
Investments · 60 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 22023 · 12022 · 12021 · 27 dated
160 Driving Academy is a commercial driver's license (CDL) training school that prepares students to become professional truck drivers.
EdTech
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
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
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
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
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
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
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 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
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 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
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
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
Sugar Land, US
Adolph Peter Colaco(Chief Executive Officer and Director)Allen Melton(Chief Commercial Officer)Bruno Sidler(Director)
Co-investorsF-LOG Ventures
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 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
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 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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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 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
Co-investorsPartners for GrowthPartners for Growth (PFG)RAED VenturesSTV
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
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 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 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
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
Co-investorsGutter Capital
Settle provides a platform that consolidates procurement and accounts payable for consumer packaged goods (CPG) brands, enabling them to manage purchases, track spending, and pay vendors.
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 Engineering provides emissions capture and control technology as a service, using barge-based, land-based, and mobile systems that remove diesel particulate matter and nitrogen oxide from exhaust.
CleantechClimate TechHardware
Mike Walker(CEO)
Co-investorsFirstime VenturesPEGASUS CAPITAL
Sunbound Homes develops financial technology solutions for senior living communities.
FintechHealthtechSaaS
Co-investorsBling CapitalFikaMu VenturesTTV Capital
Tensec provides secure global payment and banking services by partnering with established financial institutions worldwide.
AI & Machine LearningCybersecurityFintechSaaS
Sandrine Cousquer-Okasmaa(Founder)in
Co-investorsCostanoa VenturesIGNIAMontage VenturesQuiet Capital
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
Toolbox provides construction contractors with a corporate charge card and an app for managing payments and expenses.
Co-investorsOpen Opportunity Fund
Co-investorsUpfront Ventures
UPROXX is an online media publication covering music, entertainment, film, TV, sports, and lifestyle/culture, producing articles, interviews, rankings, and event coverage.
ConsumerCreator EconomyMedia & Entertainment
Co-investorsMultiplier Capital
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 companiesThrasio · wfmz.com · Aug 21, 2026

Highline · komonews.com · Aug 20, 2026

Natural · unite.ai · Aug 19, 2026

January · fiercebiotech.com · Aug 12, 2026
Heroes · cuinsight.com · Aug 11, 2026
Octane Lending · prnewswire.com · Aug 6, 2026
Neon · pulse2.com · Jul 28, 2026
PayJoy · Forbes · Jul 24, 2026
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 teamBilly 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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