Upvest Raises €100 Million To Expand Investment Infrastructure
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Upvest has received €100 million in its Series C funding round. The round was led by Hedosophia, and Sapphire Ventures also joined in. Upvest said other investors, like Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital, contributed to the round.
The company wants to use the fund to grow its team of 170 workers in the UK. According to the update, the new funds will help Upvest expand its products and work more with banks and other money companies. The company, which was established in Berlin in 2017, created a special Investment API used by many companies like banks and wealth managers.
Upvest Offers ETFs, Stocks, And Mutual Funds For Investing
Firms such as Revolut, Raisin, N26, and Bunq use Upvest. The firm offers investment instruments like ETFs, stocks, mutual funds, and more to these companies. These items are available in different types of money.
This year, Upvest completed over 20 million orders for its clients. This success has positioned Upvest as a leading investment provider in Europe. The company’s growth has been fast, with over 1 million trades every week. Upvest also earned 25% more money each month, ranking it among the fastest-growing companies in the world.
Upvest has taken steps to widen its reach. This year, the company became authorized and regulated by the Financial Conduct Authority (FCA) in the UK. With this authorization, Upvest can help UK-based fintechs, banks, and wealth managers launch or move their investment offerings using its Investment API.
The company lets its clients expand across Europe and the UK with only one API. Upvest said it wants to add more products, like local solutions for pensions, local investment options, and ways to save on taxes. The firm aims to offer better wealth solutions using its smart portfolio engine for goal-based investing.
Upvest Aims To Simplify Investing For Customers
Martin Kassing, the Chief Executive Officer and Co-Founder of Upvest shared how happy he is about the new funding. He said the funds would help the company enter new markets and develop new products faster. Kassing emphasized that Upvest’s plan is to simplify investing, just like paying for items. The firm wants to set a new standard for investment infrastructure.
Andreas Weiskam, a partner at Sapphire Ventures, praised Upvest’s team and technology. He noted that the company’s full-stack system solves important challenges for enterprise banks, fintechs, and direct-to-consumer platforms. Weiskam believes Upvest is already a leader in European investment infrastructure and is eager to support its continued growth.
With the new funding, Upvest wants to offer younger investors easy, affordable, and great investment options. The company is trying to improve the way investments work for both businesses and people.
