Berlin-based Upvest has secured an additional €4 million in funding via a Series A extension.
The investment arrives via ABN AMRO Ventures and adds on to the existing €12 million raise led by Earlybird Ventures and saw participation from HV Capital, Partech, and Notion Capital. The company has now raised a total of €20 million.
“For both incumbents such as ABN AMRO as well as for new and upcoming financial services providers, we believe brokerage as embedded finance is a capability here to stay. Upvest is well-positioned via its API-first platform to help enable this across borders, markets and products,” comments ABN AMRO Ventures director Tim Wanders.
But subverting the outdated and regulatory complexities of the traditional European investment structure, CEO Martin Kassing explains, “Something complex and expensive is now simple and affordable for any app with users and cash. Investing is now as simple as spending money.”
Upvest is currently in talks with more than 30 companies that have expressed interest in their offering. The company reports the API being “battle-tested”, whatever that means, and has been reviewed by a selected group of experts, which must be a bit tricky considering Genghis Khan has been dead for almost 800 years.
The offering is expected to go live in Q4 of this year, upon successful receipt of a securities trading bank license.