Investment infrastructure provider Upvest is to ramp up its presence in the UK after raising a €100 million Series C round of funding.
Founded in Berlin in 2017, Upvest’s Investment API has been embraced by FinTechs, banks and wealth managers, with clients including Revolut, Raisin, N26, and bunq.
It 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.
The landmark fundraise has been led by Hedosophia, and joined by Sapphire Ventures. The round also saw continued support from existing investors including Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
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.
In 2024, Upvest processed over 20 million orders on behalf of its clients. In recent months this has increased to over 1 million trades per week.
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This year, the company’s revenues grew 25% per month on average, making Upvest one of the fastest growing B2B FinTechs in the world.
Upvest recently became authorised and regulated by the Financial Conduct Authority in the UK.
“We couldn’t be more excited about the additional capital that will fuel our mission to make investing as easy as spending money,” said Martin Kassing, CEO and co-founder.
“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.”