Many banks and fintech companies across Europe are struggling with outdated technology systems. These legacy platforms make it difficult to quickly launch new investment products and to serve a growing number of retail investors.
Berlin-based fintech Upvest is building infrastructure designed to solve this problem. The company provides API-based systems that allow banks, brokers, and fintech platforms to run investment services without rebuilding their entire technology stack.
The German company has secured $125 million in new funding to support the expansion of its investment infrastructure across Europe and the UK.
The financing includes $90 million in equity funding, led by Sapphire Ventures and Tencent, with participation from existing investors Bessemer Venture Partners and BlackRock. The company is also in the final stages of arranging a $35 million debt facility to strengthen its capital base.
The new capital will help quickly launch specific pension products, like Germany’s Altersvorsorgedepot and the UK’s SIPPs, as well as AI-driven wealth solutions. This will allow banks to create personalized and profitable products faster than ever.
Martin Kassing, CEO and co-founder of Upvest, says, “Banks, brokers, and wealth managers choose Upvest for the infrastructure needed to grow their investment propositions profitably and at scale for a new generation of investors. The $125m 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. We will use the capital to accelerate our expansion into Europe’s largest markets, enabling the best local pension products and supporting the new AI investment economy.”
Building an API-first platform for banks and brokers
Founded in 2017 by Martin Kassing, Dr. Til Rochow, and Tobias Auferoth, Upvest’s API-first platform allows banks and brokers to launch investment features without building complex trading systems themselves.
Beyond software, the company provides end-to-end trading, custody, and back-office services. This allows financial institutions to comprehensively modernise their legacy operations, reduce overhead, and scale profitably.
Upvest’s ecosystem of clients includes leading digital banks like DKB and Santander’s Openbank, as well as fast-growing global fintechs such as Revolut, N26, Webull, and Raisin.
At present, the company processed more than 100 million orders in 2025 and now supports over 30 financial institutions, including DKB, Santander’s Openbank, Revolut, and N26.
Upvest has 280 employees and processes over 100 million trades annually.
Andreas Weiskam, Partner at Sapphire Ventures, adds, “Sapphire Ventures is excited to deepen our partnership with Upvest as it aims to become Europe’s leading investment infrastructure platform. Martin and the team have built a scalable, enterprise-grade platform trusted by the region’s most innovative banks and fintechs — meeting the rigorous standards of the largest global financial institutions. With retail investing accelerating across Europe, Upvest is expanding into new assets, local tax wrappers, and AI-enabled capabilities, powering the next generation of personalised investing.”
