Upvest, a
Berlin-based investment infrastructure provider for Revolut and other popular
retail trading platforms, has secured €100 million in Series C funding to
expand its operations and enhance its investment technology platform.
Investment API Provider
Upvest Secures €100M Series C to Scale European Operations
The company
has emerged as a crucial backbone for European financial technology, processing
over 1 million trades weekly, with transaction volumes showing growth of 25%
month-over-month in 2024.
Upvest’s
technology powers investment capabilities for major fintech platforms including Revolut,
Plum, N26, and bunq, reaching over 50 million end users across Europe. What is
more, it has processed over 20 million orders in 2024.
“With the
capital, we will conquer new markets, build exciting new products faster, and
serve prime fintechs and financial institutions alike,” Martin Kassing, CEO and
Co-Founder of Upvest, commented. “We will continue establishing a new standard
of investment infrastructure that delights clients and provides them with a
strategic advantage by running on the Upvest platform.”
The
European neobank bunq
joined Upvest’s client base in September this year, offering stock trading
to its customers. The Berlin-based N26,
also partnered with Upvest at the end of 2023 to integrate ETFs into its
offerings.
Upvest Receives the FCA
Approval, Plans to Double Staff
The fresh
capital injection comes when Upvests plans to double its current workforce of
170 employees and strengthen its presence in the United Kingdom following
recent FCA approval. The company’s expansion strategy include broadening its
product suite to encompass derivatives, ELTIFs, and bonds, while developing
localized investment solutions such as ISA/SIPP in the UK and PEA pension
wrappers in other European markets.
“We feel
Upvest has already proven a leader in European investment infrastructure, and
we’re excited to support their growth as they scale to new heights and make
investing as easy as spending money,” added Andreas Weiskam, Partner at
Sapphire Ventures, one of the companies backing Upvest in the latest funding
round.
Looking
ahead, Upvest plans to enhance its smart portfolio engine to enable goal-based
and tax-efficient investing at scale. This development comes as the company
responds to growing demand from a younger demographic of investors.
The funding
round, led by Hedosophia with participation from Sapphire Ventures, also saw
continued support from existing investors including BlackRock, Bessemer Venture
Partners, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
Upvest, a
Berlin-based investment infrastructure provider for Revolut and other popular
retail trading platforms, has secured €100 million in Series C funding to
expand its operations and enhance its investment technology platform.
Investment API Provider
Upvest Secures €100M Series C to Scale European Operations
The company
has emerged as a crucial backbone for European financial technology, processing
over 1 million trades weekly, with transaction volumes showing growth of 25%
month-over-month in 2024.
Upvest’s
technology powers investment capabilities for major fintech platforms including Revolut,
Plum, N26, and bunq, reaching over 50 million end users across Europe. What is
more, it has processed over 20 million orders in 2024.
“With the
capital, we will conquer new markets, build exciting new products faster, and
serve prime fintechs and financial institutions alike,” Martin Kassing, CEO and
Co-Founder of Upvest, commented. “We will continue establishing a new standard
of investment infrastructure that delights clients and provides them with a
strategic advantage by running on the Upvest platform.”
The
European neobank bunq
joined Upvest’s client base in September this year, offering stock trading
to its customers. The Berlin-based N26,
also partnered with Upvest at the end of 2023 to integrate ETFs into its
offerings.
Upvest Receives the FCA
Approval, Plans to Double Staff
The fresh
capital injection comes when Upvests plans to double its current workforce of
170 employees and strengthen its presence in the United Kingdom following
recent FCA approval. The company’s expansion strategy include broadening its
product suite to encompass derivatives, ELTIFs, and bonds, while developing
localized investment solutions such as ISA/SIPP in the UK and PEA pension
wrappers in other European markets.
“We feel
Upvest has already proven a leader in European investment infrastructure, and
we’re excited to support their growth as they scale to new heights and make
investing as easy as spending money,” added Andreas Weiskam, Partner at
Sapphire Ventures, one of the companies backing Upvest in the latest funding
round.
Looking
ahead, Upvest plans to enhance its smart portfolio engine to enable goal-based
and tax-efficient investing at scale. This development comes as the company
responds to growing demand from a younger demographic of investors.
The funding
round, led by Hedosophia with participation from Sapphire Ventures, also saw
continued support from existing investors including BlackRock, Bessemer Venture
Partners, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
This post is originally published on FINANCEMAGNATES.
