Upright
Upright, called Fund That Flip until 2023, lends to house flippers and builders and has funded those loans with accredited investors' money through single-loan notes, two note funds and the Horizon fund. Its loans were already slipping before its payment provider Synapse failed in May 2024 (13.51% of loans by count 31 or more days late that April). Upright halted new investments, announced in August 2024 that it was resuming them starting with Horizon, and admitted Horizon investors into mid-2025. By its own account the Pre-Fund note fund has been returning capital since June 2024 with interest deferred and loan-level losses reported in 2026, and Horizon has been winding down since mid-2025. The website still shows those products with 'Invest Today' buttons, '100% principal repaid' badges and 'Low fees - only 1%'.
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Platform Identity
- Website
- upright.us
- Headquarters
- Cleveland, OH, US
- Founded
- 2014
- Parent
- Fund That Flip, Inc., doing business as Upright (Delaware corporation; CIK 1631102; 1300 E 9th Street, Cleveland, OH; earlier New York). Subsidiaries: FTF Lending, LLC (originator and issuer of borrower payment dependent notes), FTF Capital Management, LLC (manager of the Horizon and Blueprint funds, wholly owned per the 2025 PPM), FTF Fund Management, LLC (manager of the Pre-Funding and Residential Bridge note funds). Founder and CEO Matt Rodak. Rebranded from Fund That Flip to Upright in September 2023.
- Platform type
- Real Estate Debt Platform: Notes and Funds Backed by Short-Term Loans to Real Estate Investors, Rule 506
- Regulatory
- unregistered
- Eligibility
- accredited only
AltStreet Coverage
- Review status
- Published
- Coverage type
- Investment platform
- Review date
- Nov 1, 2026
- Last updated
- Nov 1, 2026
- Composite score
- 1.8
Key Data Points
- EDGAR-linked offerings
- 9
- Filing-verified raised
- $400.64M
Reference Reading
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