About Upper90
Upper90 is a venture capital firm founded in 2018. It is primarily based out of New York City, United States. As of Aug 2026, Upper90 is an active investor, having invested in 56 companies, with 5 new investments in the last 12 months. It primarily invests in Conventional Debt round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and Retail. Most recently it participated in the $***** Conventional Debt round of Natural Overall, Upper90 portfolio has seen 5 unicorns and 10 acquisitions including key companies like Thrasio, Clearco and Crusoe. A lot of funds co-invest with Upper90, with names like PEAK6 sharing a substantial percentage of its portfolio. Upper90 has team of 15 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Conventional Debt, Series B & 4 more
Deals in last 12 months
Upper90's List of Top Investments
Upper90 has a portfolio of 56 companies, including 5 unicorns. Their most notable investments are in Valoreo and Thrasio.Their portfolio spans across United States, Germany, United Kingdom and 5 more locations. They have invested in Enterprise Applications, FinTech, Retail and 20 other sectors, across stages such as Conventional Debt, Series B and 4 more. Here is the list of top investments by Upper90:
1. Thrasio
Platform acquiring Amazon FBA brands. The company acquires private label Amazon FBA businesses and direct-to-consumer e-commerce brands. The company evaluates the business and offers a deal to the seller. After acquiring the businesses, the company optimizes and operates the brands to expand through marketing, product development, supply chain management, and wholesale expansion, leading to financial and operating growth.
Key facts about Thrasio
- Founded Year: 2018
- Location: Walpole (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $3.4B
- Employee Count: 251 as on Aug 31, 2026
- Investors: Western Technology Investment, Silver Lake and 30 Others
- Latest Funding Round: Series D, Oct 22, 2021, $*****
- Highlight: Editors' Pick
2. Clearco
Revenue-based financing solution. It provides loans to businesses in return for a part or percentage of revenue generated by the business. It provides loans to eCommerce, SaaS, and more.
Key facts about Clearco
- Founded Year: 2015
- Location: Toronto (Canada)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $775M
- Employee Count: 143 as on Aug 31, 2026
- Investors: Founders Circle Capital, Sarissa Capital and 32 Others
- Latest Funding Round: Conventional Debt, Aug 18, 2026, $*****
- Highlight: Editors' Pick
3. Crusoe
Operator of cloud platform providing infrastructure for artificial intelligence workloads. The company designs, builds, and operates infrastructure to power artificial intelligence. It offers managed inference, cluster management, and observability. The platform features high-performance compute, accelerated storage, and optimized networking. It provides support for open and open-source models. The company focuses on environmentally aligned power sources.
Key facts about Crusoe
- Founded Year: 2018
- Location: Denver (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $6.67B
- Employee Count: 1,715 as on Aug 31, 2026
- Investors: Goldman Sachs, Fidelity Investments and 77 Others
- Latest Funding Round: Series F, Aug 31, 2026, $*****
- Highlight: Editors' Pick
_1580719896785.png?format=webp&height=120&width=120){kind=logo}
4. PayJoy
PayJoy provides an online platform for purchase financing. It facilitates finance for consumer electronics, changing an up-front purchase into a monthly installment plan. This applies to everything from televisions and smartphones to microwaves and air conditioners. Customers register for PayJoy at a local merchant with their Facebook account, phone number, and government-issued I.D.
Key facts about PayJoy
- Founded Year: 2015
- Location: San Francisco (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $205M
- Employee Count: 2,120 as on Aug 31, 2026
- Investors: Western Technology Investment, Neuberger Berman and 32 Others
- Latest Funding Round: Conventional Debt, Dec 03, 2025, $*****
- Highlight: Editors' Pick
5. Clutch
Online-first dealer of used cars. It buys cars from private owners, reconditions, and sells online after verification and testing. It also allows individuals to list cars for sale or to browse and purchase cars from other sellers. It also offer guranatee and return program.
Key facts about Clutch
- Founded Year: 2016
- Location: Toronto (Canada)
- Stage: Series D
- Total Funding till date: $167M
- Employee Count: 485 as on Aug 31, 2026
- Investors: Canaan, Neuberger Berman and 16 Others
- Latest Funding Round: Series D, Jan 03, 2025, $*****
- Highlight: Editors' Pick
Upper90's Year-on-Year Investment Trends
Upper90 has invested in 56 companies over the last 8 years, with an average of 5 new investments annually in the last 5 years. In 2025, it made 4 investments, while as of Aug 2026, it has made 5 investments in this year. Its most recent first time investment was in Natural and most recent follow-on round was in Neon.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 1 | 5 |
2025 | 2 | 2 | 4 |
2024 | 3 | 3 | 6 |
2023 | 8 | 3 | 11 |
2022 | 4 | 3 | 7 |
2021 | 11 | 8 | 19 |
2020 | 1 | 2 | 3 |
2019 | 3 | 1 | 4 |
2018 | 1 | 0 | 1 |
Upper90's Investments by Stage
Upper90 has made 11 investments in Conventional Debt stage with an average round size of $95M, 8 investments in Series B stage with an average round size of $81.6M and 7 investments in Seed stage with an average round size of $36.2M.Stage of entry | No. of Investments |
|---|---|
Conventional Debt | 11 |
Series B | 8 |
Seed | 7 |
Series A | 7 |
Series C | 3 |
Others | 1 |
Note: We have considered here, only first round of investments
Upper90's Investments by Sector
Upper90 has a diverse portfolio, with companies operating in the FinTech, Enterprise Applications, Retail, Consumer and Financial Services. Notably, it has invested in 49 Tech companies, 40 Enterprise (B2B) companies, 19 Software companies and at least 15 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
FinTech | 15 |
Enterprise Applications | 14 |
Retail | 11 |
Consumer | 9 |
Financial Services | 7 |
Others | 30 |
Note: We have considered here, only first round of investments
Upper90's Investments by Geography
Upper90 has made most investments in United States (25), followed by Germany where it has made 3 investments.Country | No. of Investments |
|---|---|
United States | 25 |
Germany | 3 |
Canada | 2 |
Mexico | 2 |
United Kingdom | 2 |
Others | 2 |
Note: We have considered here, only first round of investments
Upper90's recent investments
Upper90 has made 5 investments in 2026 so far. Natural and General Compute are the latest among them.Here are the most recent investments by Upper90:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 21, 2026 | United States | Conventional Debt | 9206 | - | |
Jul 17, 2026 | United States | Conventional Debt | 3111 | - | |
May 04, 2026 | United States | Series B | 1489 | [+8] | |
Mar 25, 2026 | United States | Series A | 5028 | ||
Mar 25, 2026 | United States | Conventional Debt | 8892 |
Unicorns in Upper90's Portfolio
Upper90 has 5 unicorns in its portfolio - Crusoe, SellerX, Razor Group and others. The most recent unicorn in their portfolio is Crusoe. It became a unicorn in 2022, 2 years after Upper90 first invested in it.Here is a list of unicorns in Upper90's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Operator of cloud platform providing infrastructure for artificial intelligence workloads | 2018 | Denver | Series F | hbjlnda | ||
61 | Provider of brand acquisition and management services for amazon-based retailers | 2020 | Meerbusch | Series B | qudcr{w | ||
55 | Platform acquiring Amazon FBA brands | 2020 | Berlin | Series D | wzyet{h | ||
75 | Revenue-based financing solution | 2015 | Toronto | Series D | cbowtyu | ||
76 | Platform acquiring Amazon FBA brands | 2018 | Walpole | Series D | ruczvfd |
Acquired companies in Upper90's Portfolio
10 companies from Upper90's portfolio have been acquired. The most recent acquisition was Finley in Mar 2026 by Concord Finance for $*****.Here are Upper90's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 02, 2026 | Jan 31, 2023 | Series A | 2575 | |
Jul 01, 2025 | - | - | 1532 | |
May 15, 2025 | 2023 | Conventional Debt | 5058 | |
Apr 22, 2025 | - | - | 3818 | |
May 31, 2023 | Jul 12, 2021 | Series B | 4568 |
Team profile of Upper90
Upper90 has a team of 15 members including 3 Partners and 2 Principals located in United States. Upper90's team does not sit on the board of any company as of now.Here is a list of top team members in Upper90:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | New York City | - | ||
Partner | Salt Lake City | - | ||
Partner | New York City | - | ||
Principal | Boston | - | ||
Principal | New York | - | - |
Co-investors of Upper90
Over the past 8 years, 307 investors have co-invested in Upper90's portfolio companies. This includes funds and angels.
- Invested before Upper90: FJ Labs, Global Founders Capital and 106 others have invested in rounds before Upper90. There are 6 companies where FJ Labs has invested before Upper90 and 3 companies where Global Founders Capital has invested before Upper90.
- Top Co-investors of Upper90: 95 investors entered a company along with Upper90. These include investors like PEAK6 (2 companies).
- Invested after Upper90: A total of 104 investors have invested in Upper90's portfolio after their investments. Top Investors include Oaktree Capital Management (2 companies), Advent International (1 company) and RiverPark Ventures (1 company).
Recent News related to Upper90
•
Natural Secures $100M Credit Facility to Scale Payments for AI AgentsPR Newswire•Aug 19, 2026•Natural, Upper90, Natural
•
•
•
Octane Secures $100 Million to Expand Vehicle-Financing PlatformPYMNTS.com•Dec 16, 2025•Octane, Roadrunnerfinancial, Valar Ventures, Huntington National Bank and 4 others
•
•
Nooks Closes $25M Series A Funding Led by Zigg Capital, Upper90, SAIC and Lockheed MartinCIO Influence•Jun 09, 2025•Nooks, Zigg Capital, Upper90, Lockheed Martin and 1 other
•
Crusoe secures $225m to grow AI cloud platformDCD•Mar 28, 2025•Crusoe, ORIX, Liberty Mutual Investments, King Street and 3 others
•
Upper90 closes $225M credit facility to Crusoe to expand AI cloud infrastructureSDxCentral•Mar 28, 2025•Upper90, Crusoe, BCI, FS Investments and 3 others
•
Upper90 Closes $225M Credit Facility to Crusoe to Expand AI Cloud InfrastructureBenzinga•Mar 27, 2025•Upper90, Crusoe, BCI, FS Investments and 3 others
•
Freight fintech startup Outgo raises $15M to help trucking carriers access cash quicklyGeekWire•Sep 24, 2024•Outgo, Gradient Ventures, Construct Capital, Neo and 5 others
