Investment API Upvest has raised a €100 million Series C round led by Hedosophia and joined by Sapphire Ventures.
Founded in Berlin in 2017, Upvest’s Investment API has since been embraced by fintechs, banks, and wealth managers, with clients including Revolut, Raisin, N26, and bunq.
Upvest enables businesses to offer end users access to fractional exchange-traded funds (ETFs), stocks, mutual funds, and soon derivatives, ELTIFs, and bonds in any currency.
In 2024, Upvest became authorised and regulated by the Financial Conduct Authority (FCA), enabling UK-based fintechs, banks, and wealth managers to launch or migrate their investment offerings using the Investment API.
Upvest enables its clients to scale across Europe and the UK via one API. Going forward, it will expand its product suite by offering local solutions in select markets such as pension wrappers (e.g. ISA/SIPP, PEA), local investment products, and taxes. To continue delivering wealth solutions for millions of end users, Upvest will enable goal-based and tax-efficient investing at scale via its smart portfolio engine.
Martin Kassing, CEO and co-founder of Upvest, says:
"With the capital, we will conquer new markets, build exciting new products faster, and serve prime fintechs and financial institutions alike.
We will continue establishing a new standard of investment infrastructure that delights clients and provides them with a strategic advantage by running on the Upvest platform.”
The round also saw continued support from existing investors, including Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
Andreas Weiskam, Partner at Sapphire Ventures, adds:
“Perhaps most impressive is the team behind the technology – a leadership group with decades of wealthtech experience who embody the innovation and passion needed to drive change in a long-underserved space.
We feel Upvest has already proven a leader in European investment infrastructure, and we’re excited to support their growth as they scale to new heights and make investing as easy as spending money.”
The funding will be used to double Upvest’s 170-strong team, enhance its product offering, strengthen its presence in the UK, and deepen its partnerships with financial institutions.
Lead image: Martin Kassing, CEO and co-founder of Upvest. Photo: uncredited.
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