Upvest, a Berlin-based investment infrastructure provider for Revolut and other popular retail trading platforms, has secured €100 million in Series C funding to expand its operations and enhance its investment technology platform.

Investment API Provider Upvest Secures €100M Series C to Scale European Operations

The company has emerged as a crucial backbone for European financial technology, processing over 1 million trades weekly, with transaction volumes showing growth of 25% month-over-month in 2024.

Upvest's technology powers investment capabilities for major fintech platforms including Revolut, Plum, N26, and bunq, reaching over 50 million end users across Europe. What is more, it has processed over 20 million orders in 2024.

“With the capital, we will conquer new markets, build exciting new products faster, and serve prime fintechs and financial institutions alike,” Martin Kassing, CEO and Co-Founder of Upvest, commented. “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 European neobank bunq joined Upvest's client base in September this year, offering stock trading to its customers. The Berlin-based N26, also partnered with Upvest at the end of 2023 to integrate ETFs into its offerings.

Upvest Receives the FCA Approval, Plans to Double Staff

The fresh capital injection comes when Upvests plans to double its current workforce of 170 employees and strengthen its presence in the United Kingdom following recent FCA approval. The company's expansion strategy include broadening its product suite to encompass derivatives, ELTIFs, and bonds, while developing localized investment solutions such as ISA/SIPP in the UK and PEA pension wrappers in other European markets.

“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,” added Andreas Weiskam, Partner at Sapphire Ventures, one of the companies backing Upvest in the latest funding round.

‍Looking ahead, Upvest plans to enhance its smart portfolio engine to enable goal-based and tax-efficient investing at scale. This development comes as the company responds to growing demand from a younger demographic of investors.

The funding round, led by Hedosophia with participation from Sapphire Ventures, also saw continued support from existing investors including BlackRock, Bessemer Venture Partners, Earlybird, HV Capital, Motive Ventures, and Notion Capital.