We’re happy to announce our €7mn Funding Round
Today, we’re excited to announce that we’ve raised a €7mn Series A by Notion Capital, Holtzbrinck Ventures, Partech, and Speedinvest to support us on our mission to build the financial infrastructure of the future.
We’re excited to have such knowledgeable and experienced partners on our side on this ambitious journey. Notion, Holtzbrinck, Partech, and Speedinvest are among the largest European early stage and growth VCs with previous investments into successful companies like GoCardless, Tradeshift, Zalando, HelloFresh, Flixbus, SumUp, Bestmile, and Volterra.
It is the optimal outcome of a busy and challenging, yet very rewarding year 2019. Since launching our APIs in February, we’ve been able to engage over 1500 developers testing out our APIs, coming from over 80 countries. But it didn’t stop with testing, and we’re super excited about the results. We’ve got 20+ customers building real-world use cases on the blockchain using Upvest’s technology, most of them traditional fintechs and asset tokenization platforms, such as Exporo and Brickblock.
So what will the money be used? Our challenge is not only building easy-to-use blockchain APIs, but rather a product which needs to fit the regulatory environment, without sacrificing on security or user experience. First, our focus will first be on making existing services as reliable and scalable as possible before extending our solution in the dimensions of tech, security, and legal. The long-term goal is building a more open and inclusive ecosystem to build amazing fintech applications.
In practice, we will focus on extending our great team, which is at the heart of our offering and the product we’ve built so far. With the investment money, we’re now able to make crucial hires, which span across important functionalities. We will get more muscle behind our engineering team to get more speed in development processes, without sacrificing our quality and security. On the business side, we will complement our team with a senior sales and marketing person to help us create this market category. If you are looking for an opportunity in a highly disruptive industry or know someone who is, please check out our current positions.
We want to thank all our API users, enterprise clients, team members, and investors for the great year of 2019. Your feedback and suggestions are invaluable to us, and we couldn’t build our product without it.
The next year will be very exciting! We can’t wait to share the improved and new features and services we’ve got in planning for you.