More money for N26 founder's investment

Upvest raises a total of twelve million euros. The fintech intends to use the money to grow further.

The Berlin-based start-up Upvest has raised a total of twelve million euros in its Series A. It was already known that seven million euros came from Notion Capital, HV Capital and Partech. Maximilian Tayenthal, founder and CFO of Neobank N26, was also on board. Now a total of five million euros has been added in a financing round led by Earlybird.

Upvest offers other fintechs a software interface for trading and storing financial products. So far, the fintech has acquired Bitwala and Exporo, among others, as customers. According to the company, 100 million euros have been transacted via the Upvest platform to date. "Increasing demand from millennials for investment products, combined with the current negative interest rates in Europe, means that fintechs of all kinds are prioritizing the connection of investment products," says investor Tim Rehder from Earlybird about the platform's success.

Upvest wants to use the money to grow further, as start-ups do. The start-up plans to employ 50 people by the end of next year, compared to around 30 at present, and the company also wants to apply for a securities trading bank license in order to expand its product range.