Berlin-based Upvest has raised €7 million for its fintech-ready blockchain API. The round was led by Notion Capital, with support from Partech Ventures and Holtzbrinck Ventures. The startup provides fintech-ready APIs, making it easy for any company to store financial assets on the blockchain and opening up the investment playing field to the masses.
Typically, investment platforms require high minimum investments, due to high issuance, distribution and storage costs. This is particularly the case for the €10 trillion alternative investment market of high-performing assets such as private equity and real estate.
But with Upvest, fintech companies save costs and users can invest as little as €1, with the ability to manage investments from anywhere, anytime.
“With Upvest we save 85 percent in custodial and security issuance costs. Upvest is the only solution that scales globally without compromising the user experience,” said Simon Brunke of Exporo, one of Upvest’s customers.
Founded by Martin Kassing in 2018, the company has grown beyond its Berlin base. Users, or rather API sign-ups, come from over 80 countries, and the platform has processed a volume of €50 million to date.
Commenting on the decision to invest, Jan Miczaika of Holtzbrinck Ventures said: ‘We were impressed by Upvest’s drive to find a real-world and repeatable use case for the blockchain. It is one of the few companies in the space that has real revenues and a clear ROI for its customers’
Patrick Norris of Notion added: “We expect the Blockchain to be extremely disruptive to the financial services industry. Upvest’s blockchain agnostic platform for Asset Tokenization puts it in an extremely strong position to be the enterprise-grade platform of choice for the new generation of financial services companies.”