Berlin-based Upvest, the investment infrastructure provider, has recently announced a significant financial milestone by securing €100 million in a Series C funding round. This round was spearheaded by Hedosophia, with Sapphire Ventures also participating. The company aims to utilize this substantial funding to expand its team, enhance its product offerings, and strengthen its presence in the UK, while simultaneously building deeper connections with financial institutions. With this financial injection, Upvest is poised to further its mission of simplifying the investment process for both individual and institutional clients, reinforcing its position in the fintech sector.
Previously, Upvest raised €30 million in a funding round, marking a period of growth and development for the company. The current investment round not only surpasses past financial movements but also highlights a growing confidence among investors in Upvest’s trajectory. This confidence is further demonstrated by the broad participation of existing investors, including prominent names such as Bessemer Venture Partners and BlackRock. Such continued support underscores the perceived potential of Upvest’s offerings within the financial technology landscape.
How does Upvest simplify investments?
Founded in 2017 by Martin Kassing, Upvest has established itself as a company that streamlines the investment process through its API technology. The fintech company, supervised by German regulators, offers an Investment API to financial institutions, enabling them to provide investment products like stocks and ETFs in accessible formats. By reducing entry barriers to minimal amounts, Upvest’s API facilitates real, physical fractional investing, appealing to both traditional financial entities and emerging fintech players.
Who are the leading investors?
London-based Hedosophia and Sapphire Ventures are prominent investors in Upvest’s recent funding round. Hedosophia is known for supporting technology companies worldwide, while Sapphire Ventures boasts a history of investing in over 170 global companies.
“Sapphire Ventures is thrilled to partner with Martin and the entire Upvest team as they redefine what’s possible for European investment infrastructure,”
stated Andreas Weiskam, Partner at Sapphire Ventures, emphasizing the potential seen in Upvest’s technological advancements and leadership.
Upvest’s client portfolio includes notable names such as Revolut, Raisin, and N26, illustrating its reach and efficacy in the digital finance space. The company’s operational metrics reveal significant activity, with over 20 million orders processed across its platform, and a recent increase to over 1 million trades per week. These statistics highlight the scalability and acceptance of Upvest’s API solutions among its clients, which include both established banks and newer fintech ventures.
The funding will enable Upvest to introduce new products such as regional investment options and tax services, catering to a broader spectrum of financial needs across Europe and the UK. This strategic expansion aligns with the company’s goal to empower fintechs, banks, and wealth managers with comprehensive investment tools. The achievement of authorization by the Financial Conduct Authority (FCA) further opens doors for Upvest’s offerings in the UK market, providing a competitive edge in the growing financial services industry.
As Upvest advances its infrastructure and increases its market presence, this initiative marks a significant step in its growth trajectory. The €100 million funding not only facilitates current expansions but also sets the stage for future innovations in financial technology. The collaboration with influential investors reflects a shared vision of enhancing financial accessibility and efficiency. By continuously refining its API and expanding its product range, Upvest positions itself to address evolving market demands and foster long-term client relationships.
