Upvest Ramps Up UK Presence with €100m Funding
Funding | Dec 12, 2024 | Business Cloud
Upvest, a Berlin-based investment infrastructure provider, has raised €100 million in a Series C funding round led by Hedosophia, with participation from Sapphire Ventures and continued backing from investors like Bessemer Venture Partners and BlackRock. This funding will support Upvest's expansion in the UK, where it recently received FCA authorization, and enhance its product offerings. The company supports over 1 million trades weekly for clients like Revolut and N26. Upvest aims to double its workforce, enhance partnerships, and establish a new investment infrastructure standard.
Sectors
- FinTech
- Investment Management
Geography
- United Kingdom – Upvest is ramping up its presence in the UK following its recent authorization by the Financial Conduct Authority.
- Germany – Upvest is headquartered in Berlin, Germany, where it was founded in 2017.
Industry
- FinTech – Upvest operates in the financial technology sector, providing investment API solutions to fintechs and financial institutions.
- Investment Management – The company's API enables access to various investment products such as ETFs, stocks, and mutual funds.
Financials
- €100 million – The amount raised by Upvest in its Series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Upvest | Target Company | Company | A Berlin-based investment infrastructure provider offering an Investment API for fintechs and financial institutions. |
| Hedosophia | Lead Investor | Company | A private equity firm leading Upvest's €100 million Series C funding round. |
| Sapphire Ventures | Investor | Company | A venture capital firm participating in Upvest's funding round. |
| Bessemer Venture Partners | Investor | Company | An existing investor continuing to support Upvest. |
| BlackRock | Investor | Company | A major investment management firm supporting Upvest's funding round. |
| Martin Kassing | CEO and Co-founder | Person | Chief Executive Officer and co-founder of Upvest, responsible for its strategic direction. |
| Financial Conduct Authority | Regulatory Authority | Government | The regulatory body that authorized Upvest in the UK. |