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.
Founded in 2017, Upvest provides API-based infrastructure powering trading and back-office operations for banks, brokers and wealth managers — helping them rip out legacy systems and replace them with more modern investment products faster.
“The $125 million round, just 12 months after our Series C, underscores our momentum to be the top choice for financial institutions launching and scaling best-in-class investment experiences at lightspeed in Europe,” said cofounder and CEO Martin Kassing.
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.
Upvest 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.
