Upvest receives $42 million

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

Upvest has raised $42 million in its Series B funding round. It is one of the largest German fintech funding rounds so far this year. Bessemer Venture Partners leads the current round as. Earlybird and Abn Amro Ventures are increasing their existing stakes, while Notion Capital, Partech, 10x Group and Speedinvest are also participating again.

"We are proud and pleased that we were able to attract Bessemer Venture Partners, one of the most internationally renowned and experienced VC investors," says CEO Martin Kassing.

Upvest enables fintechs to provide their end customers with access to the full range of investment opportunities, from stocks, ETFs to cryptocurrencies. To do so, the startup has developed a fully cloud-based core investment banking system. It says 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," said Charles Birnbaum, partner at Bessemer Ventures.