The round was led by Hedosophia and supported by Sapphire Ventures, with continued investment from existing backers including Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital. The funding will enable Upvest to expand its 170-member team, upgrade its product offerings, strengthen its presence in the UK, and deepen collaborations with financial institutions.
Founded in Berlin in 2017, Upvest’s Investment API powers investment offerings for fintechs, banks, and wealth managers. Notable clients include Revolut, Raisin, N26, and bunq. The platform allows end-users to access fractional exchange-traded funds (ETFs), stocks, mutual funds, and, soon, derivatives, bonds, and ELTIFs in multiple currencies.
In 2024, Upvest achieved several milestones, processing over 20 million orders and growing revenues by an average of 25% monthly, according to the official press release. Currently, the platform facilitates over one million trades weekly, underscoring its position as a leader in European investment infrastructure.
Upvest is also authorised and regulated by the UK’s Financial Conduct Authority (FCA), enabling seamless integration for UK-based financial institutions. Its single API approach allows clients to scale investment solutions across Europe, while upcoming features include local solutions such as pension wrappers (e.g., ISA/SIPP), goal-based investing, and tax-efficient options.
Martin Kassing, CEO and co-founder of Upvest, expressed enthusiasm about the funding’s potential. He stated that this capital fuels the company's mission to make investing 'as easy as spending money'. It will allow Upvest to expand into new markets, accelerate product development, and support fintechs and financial institutions. Andreas Weiskam, Partner at Sapphire Ventures, praised Upvest’s innovation and leadership, saying that the company addresses the challenges of enterprise banks, fintechs, and D2C platforms with usability, innovation, and resilience.
Upvest’s infrastructure is designed to meet the needs of an increasingly young and cost-conscious demographic of investors. By combining innovation, scalability, and a seamless user experience, Upvest continues to redefine wealth management, aiming to make investing as intuitive as everyday spending.
In November, global financial app Revolut partnered with Upvest to expand its wealth and trading offering by launching ETFs and fractional European stocks. In August 2024, Germany-based financial institution Deutsche Bank announced its collaboration with Upvest, with the bank supporting the latter in improving its product offering.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now