Upvest, a prominent investment API, has successfully secured €100 million in a Series C funding round and plans to expand its workforce from 170 to 340 employees.
The funding was spearheaded by Hedosophia, with participation from Sapphire Ventures and ongoing support from existing investors, which include notable names like Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
Established in Berlin in 2017, Upvest empowers financial technology companies to provide their users with access to a variety of investment options, including fractional exchange-traded funds (ETFs), stocks, mutual funds, and, in the near future, derivatives, ELTIFs, and bonds in various currencies.
In 2024, Upvest facilitated over 20 million orders for its clients, which include well-known firms like Revolut, Raisin, N26, and bunq. The company reported that it now handles over one million trades weekly, with an average revenue growth of 25% per month.
As part of its expansion strategy, Upvest intends to introduce products tailored to local markets, particularly in the UK, following its recent approval from the Financial Conduct Authority.
Martin Kassing, CEO and co-founder of Upvest, stated, “With this capital infusion, we aim to enter new markets, accelerate the development of innovative products, and better serve leading fintechs and financial institutions.”