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February 28, 2023
Upvest supports Vivid in launching its all new European ETF and stock offering
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Martin Kassing
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CEO & Co-Founder
- Upvest's Investment-API will enable Vivid to offer its end-customers access to ETFs and EU stocks, launching the all new Invest 2.0 product of the mobile banking app and entering new customer segments.
- The collaboration marks another important step in Upvest’s young history and underlines its fast growth in recent years.
Berlin, February 28, 2023. Berlin-based infrastructure fintech Upvest supports the mobile banking and investment app Vivid with its Investment-API, enabling Vivid to expand its range of investment opportunities for private investors. Upvest’s API solution allows Vivid's end-customers to invest in European ETFs and stocks with all relevant shareholder rights for the first time. Previously Vivid only offered derivatives in Invest 1.0. Furthermore, with Upvest, Vivid’s customers can benefit from an all new investing feature in fractional stocks in real time – starting from an investment of one euro. Vivid obtained its investment licence from the Dutch AFM in August 2022.
Designed as a plug-and-play solution, Upvest's API can be easily connected to existing backends and deployed immediately, enabling Vivid to create flawless and secure investment experiences for its end-customers. By leveraging the Investment-API, Vivid can process a higher volume of transactions per day. This will enable the Berlin company to accelerate its expansion in the European market and to offer investment products to even more private investors. Thereby, Upvest’s infrastructure solution ensures that Vivid can quickly launch new assets for trading in full compliance with EU-wide regulations.
Our mission is to enable private investors to become financially independent and to provide them with the necessary tools to do so. With Upvest's infrastructure and leveraging both licence sets, we now have everything we need to provide our users with an even better investment product, like all relevant shareholder rights, dividends and access to an even larger range of European assets, while maintaining our high standards of usability. Upvest's operational and technical commitment will allow us to ensure a fast go-to-market and seamlessly combine a broad range of investment opportunities in one application.
We appreciate the trust that Vivid has placed in us as one of the major European fintechs. We are proud to have created a new standard for investment infrastructure, enabling the largest players in the financial industry to reduce their cost per trade and thus realise significant cost savings. With our cloud-based platform, we are giving our clients everything they need to be resilient in times of increasing cost pressures due to low interest rates and rising inflation.
The collaboration with Vivid highlights Upvest's capability to already operate at scale, enabling fintechs to make investing even more attractive and accessible through its infrastructure. The Investment-API provides Vivid with a highly scalable solution to develop entirely new use cases in the future.
About Upvest
Upvest is a fintech company founded in 2017 by Martin Kassing that enables any business to offer any type of investment product via its Investment-API. The cloud-native core banking system gives clients an unfair advantage in scalability, modularity and costs. The mission of Upvest is to make investing as easy as spending money, enabling billions of people to take wealth into their own hands. The company currently employs more than 100 people across Europe with its HQ in Berlin. With more than $50m raised by leading VCs such as Bessemer Venture Partners, Earlybird, HV Capital, Notion Capital and ABN AMRO Ventures the company is one of the most well-funded neo investment infrastructure providers in Europe.
Press Contact
Konstantin Kotulla, Upvest GmbH
About Vivid
Vivid is the first mobile banking app that combines all your daily money needs in one app. Whether it’s spending, saving, or investing – Vivid offers an easy, flexible, and transparent solution to grow your money. The company's mission is to provide its over 500,000 onboarded customers throughout Europe with a superior banking and investment experience and to offer a wide range of financial services (including savings accounts, multi-currency accounts and investments in stocks and crypto) without unnecessary fees. Vivid was founded in 2019 in Berlin and consists of an international, highly qualified team of more than 200 employees. Vivid has already raised over 200 million euros from renowned investors, including Ribbit Capital, Greenoaks Capital, and the SoftBank Vision Fund 2, and is valued at 775 million euros.
For more information, please visit https://vivid.money/
Press Contact
Adrian Smiatek, PR & Communications Lead, Vivid
press@vivid.money
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