Berlin-based investment infrastructure startup Upvest has raised a $125m funding round, as demand grows for new alternatives to Europe’s ageing banking systems. The round includes a $90m equity round led by Sapphire Ventures and Tencent, with existing investors Bessemer Venture Partners and BlackRock also on board. The company said it was also finalising a $35m debt facility to bolster its balance sheet.
Details
The funding round comes just 12 months after Upvest raised a $115m Series C. Upvest provides API-based infrastructure powering trading and back-office operations for banks, brokers and wealth managers, helping them replace legacy systems with more modern investment products faster. The company said it would use the fresh capital to expand its platform, including support for complex tax wrappers and pensions, while rolling out AI-powered capabilities to enable more personalised, automated investing at scale.
Company Context
Founded in 2017, Upvest counts digital banks like DKB and Santander’s Openbank among its clients, alongside fintech heavyweights such as Revolut and N26. The company says it now processes more than 100m client orders annually across 30+ institutions, with plans to achieve profitability in the near future.
Industry Context
The funding round underscores the growing demand for alternatives to Europe’s ageing banking systems. Upvest’s API-based infrastructure is helping financial institutions launch and scale best-in-class investment experiences at lightspeed in Europe.
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Source: Sifted