Berlin-based fintech Upvest has secured a €30 million funding round. Participating in the round is BlackRock alongside existing investors Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital.
Upvest provides the necessary infrastructure for digital wealth management for trading, settlement and custody, in one low-friction API.
As part of the funding deal, there is a partnership with BlackRock which will open Upvest up to BlackRock’s ‘broad asset management expertise and leadership in ETFs’.
“BlackRock’s partnership with Upvest will drive innovation in how Europeans access markets and make it cheaper and simpler to start investing. Across Europe ETFs are at the core of these new propositions and often the default choice for investors, as a transparent, low cost and easily understood starting point for a new generation of investors,” says Timo Toenges, Head of iShares EMEA Digital Wealth business at BlackRock.
“With only a fraction of the European population investing in stocks and ETFs, we feel the urge to provide a better investment infrastructure to companies facilitating easy and affordable investment experiences. Together with BlackRock’s investment expertise, we can now serve any financial institution to upgrade their investment offering,” says Martin Kassing, co-founder and CEO at Upvest.
Lead image: Upvest management team. Photo: Uncredited.