BERLIN, 5th May 2021 – Upvest, a Berlin-based company offering the Investment API to businesses, has secured an additional €4m funding from ABN AMRO Ventures. Upvest’s Investment API enables any business to offer investment opportunities to anyone. It is intended to transform the traditional, outdated and regulatory complex investment infrastructure in Europe. Its product is designed in a simple gateway API that is easy to integrate into existing infrastructure. ‘Something complex and expensive is now simple and affordable for any app with users and cash. Investing is now as simple as spending money’, Martin Kassing, the company's CEO and founder. The company is in talks with 30+ companies asking for its product. Its API is currently battle tested and reviewed by a selected group of experts. The launch of the live API is intended in Q4 with the successful receipt of the securities trading bank license.
The company extended its leadership team with Dr. Oliver Vins (previously Vaamo Co-Founder/Moneyfarm CPO) as new COO and Dr. Khanh Dang Ngo (previously Trade Republic/Exporo General Counsel) as General Counsel. The 40 FTEs today will grow to 70 by year end. The new funding round by ABN AMRO Ventures will accelerate this growth. On top, ABN AMRO provides a seal of trust by one of Europe’s leading banks: “It is exciting to win one of Europe’s leading banks to invest in us. It confirms our API-first approach to enable any business to offer any investment product in a smooth and affordable way to their end users. We are excited to support the next generation of fintech builders and to provide a scalable solution for traditional players alike.”, explained Kassing.
ABN AMRO Ventures is one of the most active fintech infrastructure investors in Europe with previous investments in Solarisbank and Tink amongst others.
“We are very excited to support Upvest in its mission towards becoming one of the leading, pan-European investment infrastructure providers. For both incumbents such as ABN AMRO as well as for new and upcoming financial services providers, we believe brokerage as embedded finance is a capability here to stay. Upvest is well positioned via its API-first platform to help enable this across borders, markets and products.”, said Tim Wanders, Director at ABN AMRO Ventures. “Additionally, we are looking forward to partner with this stellar team and to collaborate again with co-investors HV Capital and Earlybird whom we worked with in the past.”
Martin Kassing - firstname.lastname@example.org
Founded in 2017 by CEO Martin Kassing, Upvest provides the Investment API to enable businesses to offer investment opportunities to anyone. Find out more here: https://upvest.co
About ABN AMRO Ventures
ABN AMRO Ventures is the corporate venture capital arm of ABN AMRO Bank. The fund’s mission is to make strategic investments in technology companies which are relevant for the bank and the digital transformation of its products and services. The fund totals €150m and currently has a portfolio of 17 companies.
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