Deutsche Bank and Upvest announce new partnership

• Upvest joins forces with Deutsche Bank to enhance its product offering, including end-user cash management, virtual IBANs, and foreign exchange.
• The partnership underscores Deutsche Bank’s ambitions to provide services to fintechs and platforms.
• With Deutsche Bank as its banking partner, Upvest will be able to offer its clients seamless and automated processing of payment transactions, also in foreign currencies.

‍

Berlin, 20. August 2024 – European investment infrastructure provider Upvest has entered into a partnership with Deutsche Bank, one of the world's leading financial services providers. The collaboration will enable Upvest to expand its product offering by embedding Deutsche Bank’s banking infrastructure into its services. It will give Upvest’s clients access to comprehensive end-user cash management solutions, virtual IBANs, and foreign exchange services through Deutsche Bank.

‍

‍Key benefits of the partnership:

‍

1. Cash management: Via Deutsche Bank’s banking capabilities, Upvest will handle cash management solutions, allowing financial service providers to optimise liquidity, streamline operations, and improve financial control.
2. Virtual IBANs: Upvest can now offer instant and easy payment solutions via Deutsche Bank's innovative virtual IBANs solution. It also enables instant matching of incoming pay-ins to accelerate the investment process.
3. Foreign exchange (FX) services: The partnership will allow Upvest to offer state-of-the-art currency exchange services, based on its Investment API. Deutsche Bank’s integrated workflow solution reduces costs for Upvest clients. It also enables seamless real-time currency conversions for international investments , ultimately improving the overall end-user experience.

Galina Kersten, Head of Tech & FinTech Sales EMEA at Deutsche Bank, commented: “Providing our services to the Berliner fintech Upvest as one of the leading scale-ups in the capital market investment area aligns with our dedicated commitment to supporting tech and fintech innovation. We look forward to working closely with Upvest to enable pan-European, instant, and API-based solutions in payments, FX, and beyond. The strongly growing neo-broker segment is the ideal fit to experience the innovation power of Deutsche Bank”.

‍

‍Martin Kassing, CEO and co-founder of Upvest, added: “We are thrilled to join forces with Deutsche Bank, a global leader in banking. Specifically, the fintech know-how, flexibility, and tech focus of the Deutsche Bank team will support us in achieving our ambitious growth plans. With their comprehensive banking solutions, we are well-positioned to further enhance our product offering and deliver unparalleled value to our clients”.

‍

About Upvest: ‍

‍

Upvest is on a mission to make investing as easy as spending money. The company empowers businesses to offer a wide range of investment products and the best experience in the field 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 for traditional securities as well as crypto assets. The company was founded in 2017 by Martin Kassing and currently employs more than 150 people at its main hub in Berlin. Its latest €30m fundraising round included participation by BlackRock, alongside its previous investors Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital.

‍

About Deutsche Bank: ‍

‍

Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments, and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

‍

For media inquiries or further information, please contact:

‍

Press Contact Upvest

‍Julieta Varsano

press@upvest.co

‍

Press Contact Deutsche Bank

Frank Hartmann 

frank.hartmann@db.com

‍