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Berlin, 12 December 2024 – Upvest, Europe’s leading investment infrastructure provider, has raised a €100 million Series C funding round. This landmark fundraise has been led by Hedosophia, and joined by Sapphire Ventures. The round also saw continued support from existing investors including Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
The funding will be used to double Upvest’s 170-strong team, enhance its product offering, strengthen its presence in the UK, and deepen its partnerships with financial institutions.
Founded in Berlin in 2017, Upvest’s Investment API has since been embraced by fintechs, banks, and wealth managers, with clients including Revolut, Raisin, N26, and bunq. As the leading European investment infrastructure provider, Upvest enables businesses to offer end users access to fractional exchange-traded funds (ETFs), stocks, mutual funds, and soon derivatives, ELTIFs, and bonds in any currency.
In 2024, Upvest processed over 20 million orders on behalf of its clients - solidifying its position as the leader in investment infrastructure in Europe. In recent months, this cadence has increased to over 1 million trades per week. This year, the company’s revenues grew 25% per month on average, making Upvest one of the fastest growing B2B fintechs in the world.
In 2024, Upvest became authorised and regulated by the Financial Conduct Authority (FCA), enabling UK-based fintechs, banks, and wealth managers to launch or migrate their investment offerings using the Investment API.Upvest enables its clients to scale across Europe and the UK via one API. Going forward, it will expand its product suite by offering local solutions in select markets such as pension wrappers (e.g. ISA/SIPP, PEA), local investment products, and taxes. To continue delivering wealth solutions for millions of end users, Upvest will enable goal-based and tax-efficient investing at scale via its smart portfolio engine.
Martin Kassing, CEO and co-founder of Upvest, says: "We couldn’t be more excited about the additional capital that will fuel our mission to make investing as easy as spending money. With the capital, we will conquer new markets, build exciting new products faster, and serve prime fintechs and financial institutions alike. We will continue establishing a new standard of investment infrastructure that delights clients and provides them with a strategic advantage by running on the Upvest platform.”
Andreas Weiskam, Partner at Sapphire Ventures, adds: “Sapphire Ventures is thrilled to partner with Martin and the entire Upvest team as they redefine what’s possible for European investment infrastructure. We believe their full-stack system addresses the unique challenges of enterprise banks, fintechs, and D2C platforms with exceptional usability, innovation, and resilience. Perhaps most impressive is the team behind the technology – a leadership group with decades of wealthtech experience who embody the innovation and passion needed to drive change in a long-underserved space. We feel Upvest has already proven a leader in European investment infrastructure, and we’re excited to support their growth as they scale to new heights and make investing as easy as spending money.”
Upvest is the only investment infrastructure provider that enables fintechs and global financial institutions to meet, at scale, the requirements of a broad, increasingly young demographic of investors who demand high-quality user experiences at low cost.
About Upvest
Upvest is on a mission to make investing money as easy as spending it. The company empowers businesses to offer a wide range of investment products and the best user experience in the fields 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. The company was founded in 2017 by Martin Kassing and currently employs more than 170 people across its hubs in Berlin, London and Tallinn.
About Hedosophia
Hedosophia is a global investment firm supporting category-defining technology companies, with offices in London, Paris, Los Angeles and Guernsey.
About Sapphire Ventures
Sapphire is a global software venture capital firm with more than $10 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For over a decade, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.
For media inquiries or further information, please contact:
Press Contact Upvest
Julieta Varsano
press@upvest.co
Press Contact Sapphire Ventures
Rhiannon Evans-Young
rhiannon@crestcomms.com
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