More money for investment from N26 founder

Upvest is able to raise a total of twelve million euros. The fintech wants to use the money to grow further.

The Berlin-based start-up Upvest was able to raise 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 will be added in a financing round led by Earlybird.

Upvest offers other fintechs a software interface for trading and custody of financial products. The fintech's clients so far include Bitwala and Exporo. 100 million euros have been transacted through Upvest's platform so far, according to the company. "An increasing demand from millennials for investment products, combined with current negative interest rates in Europe, is leading fintechs of all kinds to prioritize connecting investment products," says Earlybird investor Tim Rehder of the platform's success.

With the money, Upvest, as startups go, plans to keep growing. By the end of next year, the startup plans to employ 50 people, up from about 30 currently. The company also plans to apply for a securities trading bank license to expand its product offerings.