Upvest, a European investment infrastructure provider, has raised a €100 million Series C funding round. The funding round was led by Hedosophia and joined by Sapphire Ventures. Existing investors also participated, including the following: Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
The funding is expected to boost Upvest’s 170-strong team, enhance its product offering, “strengthen its presence in the UK, and deepen its partnerships with financial institutions.”
Established in Berlin in 2017, Upvest’s Investment API has since been utilized by Fintechs, banks, and wealth managers, with including firms like Revolut, Raisin, N26, and bunq.
As the European investment infrastructure provider, Upvest enables businesses to offer end users access “to fractional exchange-traded funds (ETFs), stocks, mutual funds, and soon derivatives, ELTIFs, and bonds in any currency.”
In 2024, Upvest processed over 20 million orders on behalf of its clients – solidifying its “position as the leader in investment infrastructure in Europe.”
In recent months, this cadence has increased to “over 1 million trades per week.”
This year, the company’s revenues grew an average of 25% per month, “making Upvest one of the fastest-growing B2B fintech companies in the world.”
In 2024, Upvest became authorized and regulated by the Financial Conduct Authority (FCA), enabling UK-based fintechs, banks, and wealth managers to launch or “migrate their investment offerings using the Investment API.”
Upvest enables its clients to scale across Europe and the United Kingdom through a single API.
Going forward, it will expand its product suite by offering local solutions in select markets such “as pension wrappers (e.g. ISA/SIPP, PEA), local investment products, and taxes.”
To continue delivering wealth solutions for end users, Upvest will enable goal-based and tax-efficient investing “at scale via its smart portfolio engine.”
Martin Kassing, CEO and co-founder of Upvest, aims to establish a new standard of investment infrastructure.
Upvest claims to be the only investment infrastructure provider enabling Fintech and global financial institutions to “meet, at scale, the requirements of a broad, increasingly young demographic of investors who demand high-quality user experiences at low cost.”
As covered, Upvest is on a mission to make investing money “as easy as spending it.”
The company empowers businesses to offer a range of investment products and the best user experience in the fields of “capital market investment and retirement planning.”
Upvest’s Investment API is easy to integrate so that fintechs and enterprises alike can “save resources and fully focus on their core business.”
Upvest is one of the few fintechs in Europe that can provide its B2B clients with the full range of investment opportunities in the “areas of principal broking business, proprietary trading, and safe custody business.”
Martin Kassing founded the company in 2017. It currently employs more than 170 people across its Berlin, London, and Tallinn offices.