Upvest receives 42 million US dollars

The main investor is Bessemer Venture. It is one of the largest German fintech-financing rounds so far this year.

Upvest has raised 42 million US dollars in its Series B financing round. This makes it one of the largest German fintech financing rounds so far this year. Bessemer Venture Partners is leading the current round. Earlybird and Abn Amro Ventures are increasing their previous stakes, and Notion Capital, Partech, 10x Group and Speedinvest are also participating again.

"We are proud and delighted that we have been able to attract one of the most internationally renowned and experienced VC investors in Bessemer Venture Partners," says Managing Director Martin Kassing.

Upvest enables fintechs to provide their end customers with access to the entire range of investment opportunities, from shares and ETFs to cryptocurrencies. To this end, the start-up has developed a fully cloud-based core banking system for investments. By its own account, it is one of the few financial institutions in Europe to hold all Bafin licenses for securities trading and crypto custody business

"Upvest is ideally positioned with a market-leading product in a particularly exciting yet underserved area of fintech infrastructure," says Charles Birnbaum, Partner at Bessemer Ventures.