Upper90, a U.S.-based hybrid investment platform, recently announced it raised $55 million in equity funds, which are dedicated to e-commerce businesses. According to Upper90, the new fund will invest equity in approximately 15 e-commerce companies with an emphasis on businesses that are acting as digital franchisors by consolidating subscale brands to provide operating leverage and marketing expertise.
“While e-commerce is expanding at a 24% CAGR in the US, there is also global growth opportunity with geographies like Latin America growing by 36% in 2020 and European growth of 26% in 2020. The success of Amazon’s third party seller model is primed and is being replicated on other platforms, while platforms like Shopify and BigCommerce are enabling businesses to expand a digital footprint.”
While sharing more details about the fund, Jason Finger, Co-Founder and Chairman of Upper90, revealed:
“Upper90 was the first fund to identify and execute successfully this market opportunity and our investment approach offering credit and equity, along with significant operational support and marketplace expertise, has allowed our portfolio companies to gain market share faster and much more efficiently.”
Founded in 2018, Upper90 is a hybrid fund that provides founder-friendly credit and equity to top disruptors in e-commerce, enterprise, and fintech. The fund is backed by more than 300 business builders with $485 million in AUM and over $1.5 billion in total originations.