Upvest receives five banking licenses
Upvest has prevailed in an award procedure by Bafin. With the new licenses, the start-up from Berlin 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 clients investment opportunities such as shares, securities, ETFs and cryptocurrencies.
Founded in 2017 by Martin Kassing, the start-up offers investment software. Corporate customers can connect this to their own systems and offer their investors financial services without needing their own banking license. "This allows our customers to concentrate fully on their core business and new growth areas," explains Kassing.
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 ConnectFYI: 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?
