Upvest, a Germany-based API-first investment infrastructure provider, has announced a USD 125 million financing round comprising a USD 90 million equity raise and a USD 35 million debt facility.
The equity round was led by Sapphire Ventures and Tencent, with continued participation from existing investors Bessemer Venture Partners and BlackRock. The round values Upvest at approximately USD 736 million, according to Bloomberg, representing a significant step up from the company's Series C completed in December 2024.
Additionally, the raise comes 12 months after Upvest's USD 115 million Series C, and follows a period of substantial operational growth. The company processed more than 100 million orders on behalf of clients in 2025, up from 20 million in 2024, and now serves more than 30 financial institutions across Europe and the UK, including Revolut, N26, Bunq, and Raisin.
Capital deployment and product roadmap
Upvest will use the capital to expand into Europe's largest markets and deepen its product capabilities in two areas. First, the company plans to support local pension tax wrappers, including the Altersvorsorgedepot in Germany and SIPPs in the UK, enabling financial institutions to bring pension products to market through its API in months rather than building the infrastructure independently. Second, Upvest is rolling out AI-supported investment engines, providing real-time, programmable execution APIs designed to allow financial institutions and AI developers to build personalised advisory services at scale for retail investors.
Furthermore, the round reflects growing demand from banks, brokers, and wealth managers facing pressure to modernise legacy systems and capture retail investment revenue, particularly as European retail investing activity continues to grow across a fragmented regulatory landscape.
Commenting on the news, Martin Kassing, CEO and co-founder of Upvest, said the round underscores the company's momentum as the infrastructure of choice for financial institutions launching and scaling investment experiences across Europe. Further expanding on this, Andreas Weiskam, Partner at Sapphire Ventures, noted that Upvest is expanding into new assets, local tax wrappers, and AI-enabled capabilities to power the next generation of personalised investing.
