Berlin-based fintech startup Upvest has raised $125 million to modernize banking systems across Europe and the UK. The $90 million equity round is led by Sapphire Ventures and Tencent, with support from Bessemer Venture Partners and BlackRock. The company is also finalizing a $35 million debt facility.
- Founded in 2017 by Martin Kassing, Dr. Til Rochow, and Tobias Auferoth, Upvest is a fintech company and regulated securities institution operating in Europe and the UK. The firm provides banks, brokers, and wealth managers with API-based infrastructure for managing securities, including trading, custody, and back-office services.
- Upvest’s platform processes over 100 million orders annually for more than 30 financial institutions, allowing clients to automate investment operations, integrate local tax and pension products, and implement AI-driven investment tools.
- The system is designed to replace or supplement legacy banking infrastructure, enabling financial institutions to manage trading and investment operations more efficiently while scaling their services.
Details of the deal
- Upvest will use the fresh capital to expand across Europe, launching local pension products like Germany’s Altersvorsorgedepot and the UK’s SIPPs, modernize banking systems with its API-based infrastructure, and introduce AI-powered investment tools that provide personalized, automated advice for retail investors, while scaling operations efficiently toward profitability.
