Upvest successful with €100 million Series C

Upvest accelerates UK expansion with €100m Series C and develops new solutions for global financial institutions

Berlin, December 12, 2024 - Berlin-based fintech Upvest, Europe's investment infrastructure provider, has closed a €100 million Series C funding round. The round was led by Hedosophia and accompanied by Sapphire Ventures, with additional support from existing investors such as Bessemer Venture Partners, BlackRock and Earlybird.

The funds will be used to double Upvest's current team of 170 employees, expand its product range, grow its presence in the UK and deepen partnerships with financial institutions. The aim is to provide 100 million people worldwide with access to investment.

This funding will allow us to tap into new markets, accelerate our product development and better serve both fintechs and banks on a global scale. Our mission is to make investing as easy as spending money.

Martin Kassing, CEO and co-founder of Upvest

Strong customer base

Since its founding in 2017, Upvest's investment API has established itself as the standard for fintechs, banks and asset managers. Clients such as Revolut, Raisin, N26 and bunq use the technology to offer their users access to fractions of ETFs, stocks, investment funds and soon derivatives, ELTIFs and bonds.

In 2024, Upvest processed over 20 million transactions and increased weekly trades to over 1 million - a growth of 25% per month. This momentum makes Upvest one of the fastest growing B2B fintechs in the world.

Upvest has proven to be a leading provider of investment infrastructure in Europe. With their unique full-stack system and an outstanding team, they are set to make a lasting impact on the investment landscape.

Andreas Weiskam, Partner at Sapphire Ventures

Having recently gained authorization from the UK Financial Conduct Authority (FCA), Upvest plans to enable UK fintechs and banks to seamlessly launch investment solutions. The expansion also includes local products such as pension solutions (e.g. ISA/SIPP, PEA) and tax-optimized investments. We previously reported on a successful EUR 30m funding round for Upvest in October 2023.