Upvest, a European investment infrastructure provider, has announced a $125 million financing round to support the modernisation of legacy banking systems across Europe and the UK. The $90 million equity round was led by Sapphire Ventures and Tencent, with participation from existing investors including Bessemer Venture Partners and BlackRock, while the company is also finalising a $35 million debt facility to strengthen its capital base.
Founded in Berlin in 2017, Upvest is a technology company and regulated securities institution in Europe and the UK. It provides banks, brokers, and wealth managers with API-based infrastructure for their securities businesses, covering trading, custody, and back-office operations.
The platform is designed to help firms modernise legacy systems, improve operational efficiency, and scale their investment offerings. Its clients include digital banks such as DKB and Santander’s Openbank, as well as fintech companies including Revolut, N26, Webull, and Raisin.
As a result, financial institutions are facing increasing pressure to modernise legacy systems and expand retail investment offerings, driving demand for Upvest’s modular, API-first infrastructure. The company has scaled significantly, now processing over 100 million annual client orders for more than 30 financial institutions, with continued growth supporting its path toward profitability.
Upvest plans to use the new capital to enhance its platform for banking, wealth, and brokerage clients, including managing the complexity of local tax wrappers and enabling faster deployment of pension products with improved user experience and cost efficiency.
The company is also introducing AI-supported investment capabilities, using real-time, programmable execution APIs to enable automated and personalised investment services for retail investors at scale.
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