Upvest receives five banking licenses
Sophie Deistler
| 23.03.2022
Upvest has prevailed in an award procedure conducted by Bafin. With the new licenses, the Berlin-based start-up enables fintechs without their own banking license to offer financial services.
Upvest has secured five banking licenses from the German Federal Financial Supervisory Authority as part of an award procedure. This means that the Berlin-based fintech can now offer its corporate customers investment options such as shares, securities, ETFs and cryptocurrencies.
Founded in 2017 by Martin Kassing, the startup offers investment software. Corporate clients can connect it to their own systems and thus offer financial services to their investors without needing their own banking license. "This allows our customers to fully concentrate on their core business and new growth areas," Kassing explains.
The fintech's investors include Earlybird, HV Capital, Notion Capital, ABN AMRO Ventures, Speedinvest, Partech, as well as N26 founder Maximilian Tayenthal and IDNow founder Felix Haas. In May of last year,the fintech raised four million euros.
Newsletter
Startups, stories and stats from the German startup ecosystem straight to your inbox. Subscribe with 2 clicks. Noice.
LinkedIn ConnectTake care, give care
Did this news inform or entertain you? Then we would be happy if you tell your network about it.
Share on Linkedin Share on Facebook Share on XingRelated companies
Investor
2017
München
Investor
1997
Berlin
Startup
2017
Berlin
Startup
2014
München
Startup
2013
Berlin
FYI: English edition available
Hello my friend, have you been stranded on the German edition of Startbase? At least your browser tells us, that you do not speak German - so maybe you would like to switch to the English edition instead?
FYI: Deutsche Edition verfügbar
Hallo mein Freund, du befindest dich auf der Englischen Edition der Startbase und laut deinem Browser sprichst du eigentlich auch Deutsch. Magst du die Sprache wechseln?
