Upvest, a European investment
infrastructure provider, has announced a $125 million financing round to
support the modernisation of legacy banking systems across Europe and the UK.
The $90 million equity round was led by Sapphire Ventures and Tencent, with
participation from existing investors including Bessemer Venture Partners and
BlackRock, while the company is also finalising a $35 million debt facility to
strengthen its capital base.
Founded in Berlin in 2017, Upvest is a
technology company and regulated securities institution in Europe and the UK.
It provides banks, brokers, and wealth managers with API-based infrastructure
for their securities businesses, covering trading, custody, and back-office
operations.
The platform is designed to help firms
modernise legacy systems, improve operational efficiency, and scale their
investment offerings. Its clients include digital banks such as DKB and
Santander’s Openbank, as well as fintech companies including Revolut, N26,
Webull, and Raisin.
As a result, financial institutions
are facing increasing pressure to modernise legacy systems and expand retail
investment offerings, driving demand for Upvest’s modular, API-first
infrastructure. The company has scaled significantly, now processing over 100
million annual client orders for more than 30 financial institutions, with
continued growth supporting its path toward profitability.
Upvest plans to use the new capital to
enhance its platform for banking, wealth, and brokerage clients, including
managing the complexity of local tax wrappers and enabling faster deployment of
pension products with improved user experience and cost efficiency.
The company is also introducing AI-supported
investment capabilities, using real-time, programmable execution APIs to enable
automated and personalised investment services for retail investors at scale.