October 6, 2023

The perfect match – Raisin Bank enters custody business and chooses Upvest as its new investment infrastructure provider

Martin Kassing
CEO & Co-Founder
  • Raisin Bank builds up a new business unit offering trading, custody and wealth management services.
  • Upvest provides Raisin Bank with its Investment API infrastructure, technically covering brokerage, settlement and custody functionality. 
  • The integration of Upvest’s API solution into the existing core system of Raisin Bank highlights Upvest's flexibility to serve different licence and functional models for fintechs as well as banks.
  • As a first project, Raisin Bank will migrate Raisin Invest ETF Robo – the biggest share of their more than €1.5bn investment business – to Upvest’s Investment API infrastructure.

Berlin/Frankfurt, 6. October, 2023. Berlin-based fintech Upvest provides the Frankfurt-based Banking-as-a-Service provider Raisin Bank, one of Europe's leading service banks, with its Investment API infrastructure for brokerage, custody and settlement. With Upvest, Raisin Bank lays the foundation to provide its existing and future customers with new products. The cooperation with Upvest enables Raisin Bank to also offer the full range of investment services and build a new business unit for investment services including custody and digital wealth management, complementing its existing account and payment as a service offering. The new setup enables potential partners to offer white label or co-branded banking and custody solutions without building their own infrastructure. Designed as a plug-and-play solution, Upvest's infrastructure is fully integrated into Raisin Bank's core system, ensuring secure and flawless processes for the new investment offering. Upvest's greenfield processes and automation enables fast account opening and higher operations efficiency.

With Upvest as its new investment infrastructure provider, Raisin Bank’s customers will be enabled to adjust investment products and switch instruments swiftly. Real-time data access of all investment activity improves customer experience and allows for real-time tracking and analysis of portfolio order execution. Thanks to Upvest's capabilities, Raisin Bank will experience use cases such as API-enabled portfolios and a powerful fee engine fully embedded with their brokerage, custody and settlement core services.

The first project of the partnership is the migration of the Raisin Invest ETF Robo, which makes up most of Raisin’s more than €1.5bn assets under management in investment products. Customers can easily switch portfolios based on their evolving needs and changing risk appetites, while limiting the operational effort itself. The collaboration also paves the way for more digitally advanced services, such as enabling customers to conveniently update their data via API.

Kim Felix Fomm, CIO and VP Wealth Management of Raisin Bank, says: “We looked at the relevant investment infrastructure providers in Europe. Upvest is the best solution for our needs in terms of product, underlying technology, and dedication of their team. The scalability and modularity of their Investment API, as well as their focus on internationalisation makes them a strong partner for our growth. We are delighted to use Upvest’s high level of automation for middle and back office processes to deliver fast investment operations and ensure highest execution quality.”

“At Upvest, we believe that collaboration is key to driving innovation in the fintech industry”, says Til Rochow, CPO and co-founder of Upvest. “With Raisin Bank, we have gained the trust of another established fintech and licensed bank. We are excited to continue our path of becoming the technological backbone for modern investment products, providing easy and reliable access to a wide range of investment opportunities.”

Mirko Siepmann, Member of the Board of Raisin Bank, comments: “We look forward to the collaboration with Upvest to further expand our capabilities and offer investment services to fintechs and other businesses. With this, Upvest and Raisin jointly foster innovative business models and help to expand the value chain of existing market participants. Together with Upvest, we will expand our business and gain new partners in the area of Banking and Custody as a Service.”

About Upvest

Upvest is a fintech company founded in 2017 that empowers other fintechs to provide their end customers with any type of investment product. To achieve that, Upvest has developed an Investment API that is easy to integrate for fintechs and banks alike. This allows Upvest clients to offer their end customers the best experience in the field of capital market investment and retirement planning, save resources and fully concentrate 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 currently employs more than 150 people at its main hub in Berlin. The $42 million Series B financing round was led by Bessemer Venture Partners, with Earlybird and ABN AMRO Ventures doubling down as previous investors and participation of Notion Capital, Partech, 10x Group, and Speedinvest.

About Raisin Bank AG

As Europe's leading service bank, Raisin Bank offers innovative and tailor-made services for the growing fintech community, institutional investors and other financial companies. Since its foundation in 1973, the Frankfurt-based institution has focused on serving business customers. Today, Raisin Bank's service portfolio includes banking-as-a-service solutions and expert advice in the areas of deposits, customer and account management, credit fronting, factoring, payment transactions and since 2023 also custody and wealth management services. The bank's payment division also covers cash solutions for ATM operators and cash logistics in Germany and Europe. As a fronting and service bank with a full banking licence, Raisin Bank supports the implementation of licensable business models for fintechs such as Raisin (Weltsparen), Wayflyer, Moss, Teylor, family offices and funds. Raisin Bank AG is a fully owned subsidiary of Raisin GmbH.

Press Contact

Julieta Varsano, Upvest GmbH

Press Contact

Fin Stempel, Raisin