Upvest receives four million euros

The fintech has once again expanded its Series A financing round. The additional money comes from the Dutch bank ABN Amro Ventures.

Fintech Upvest announced a Series A financing round of 12 million euros back in December last year. This will now be increased by a further four million euros. The new investor is the Dutch bank ABN Amro Ventures. The Dutch bank has already invested in Solarisbank and Tink.

Upvest offers an application programming interface (API) for companies that want to offer their customers investment opportunities. "What was once complex and expensive is now simple and affordable - for really any application and any company," says Upvest founder and CEO Martin Kassing. "Investing is now as simple as it can be." Upvest is currently in talks with 30 companies. The process for the securities trading bank license is still ongoing. The fintech expects to launch its product at the end of the year.

Upvest is also expanding its management team with Oliver Vins as the new COO. Vins is one of the co-founders of the robo-advisor Vaamo (now Moneyfarm). Khanh Dang Ngo becomes the fintech's Chief Legal Officer. He previously worked at Exporo and most recently at Trade Republic as Chief Legal Officer (CLO). Upvest currently employs 40 people. Another 30 employees are to be added by the end of the year.