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Upvestmight not be a familiar name if you do n’t pay near attention to the fintech industry , but chances are you ’ve already interacted with the company ’s products .
found by Martin Kassing ( pictured above ) , the Berlin - free-base inauguration build a snowy - label investment platform that is used by some of the biggest fintech society in Europe . Upvest clients include Bunq , N26 , Plum , Raisin , Revolut , Shares , and Vivid . Overall , 50 million hoi polloi can access Upvest ’s trading platform .
signal all these big epithet as node direct to today ’s news : Upvest is announcing a € 100 million Series C one shot ( around $ 105 million at current substitution rate ) .
Hedosophia , a VC house that used to besomewhat secretiveabout their portfolio , is leading the round . Sapphire Ventures is also investing , as well as exist backers Bessemer Venture Partners and BlackRock .
While Upvest is n’t disclosing its rating following the Series C round , the society said it ’s “ significantly high ” than its previous valuation ( after its $ 42 millionSeries Bel ) .
“ We think their full - pot system addresses the unequaled challenges of enterprise banks , fintechs , and D2C platforms with exceptional usability , founding , and resiliency , ” Sapphire Ventures married person Andreas Weiskam said in a program line .
Companies that use Upvest ’s API can pop the question fractional farm animal trading and entree to other fiscal ware , such as exchange - traded cash in hand ( ETFs ) and mutual funds . The company does n’t want to stop here as it plans to offer crypto , first derivative , ELTIFs ( European Long - Term Investment Funds ) , and bond in any currentness in the cheeseparing future .
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While Upvest can accept clients across the Eurozone and U.K. , the party still has some work to do to put up a trading chopine that feels truly local in all market since many customers favor to invest through particular investiture business relationship .
For instance in France , a regulated savings account that allows you to investment in a portfolio of contribution of European companies — which is called a PEA ( program d’Épargne en Actions ) — is particularly popular . Such accounts have been design to advance person to moderate shares and security department over the foresightful run . If they hold their position for at least five years and make a profit , they get a discriminatory taxation treatment .
likewise , the U.K. has other popular product like ISA ( a revenue enhancement - free savings account ) and SIPP ( a pension neglige ) .
Upvest is well aware of these geographic difference and plan to add support for local solutions in the futurity .
Such additional features will produce a barrier to first appearance for competitors prove to make a white - label investment platform . But on the theme of competitors , Bitpandaalso offers a snowy - label solvent that has been used by fintechs Lydia and N26 ( for the crypto investiture features ) .
These companies are n’t just trying to ramp up the best technical political platform . They have to secure license , sign on new partner , and descale with their clients . And Upvest now has plenty of money in the bank building to support its next 50 million client .
