Investment API Upvest is set to double its 170-strong team after closing on a €100 million Series C funding round.
The round was led by Hedosophia, and joined by Sapphire Ventures, alongside backing from existing investors including Bessemer Venture Partners, BlackRock, Earlybird, HV Capital, Motive Ventures, and Notion Capital.
Founded in Berlin in 2017, Upvest enables fintechs to offer end users access to fractional exchange-traded funds (ETFs), stocks, mutual funds, and soon derivatives, ELTIFs, and bonds in any currency.
In 2024, Upvest processed over 20 million orders on behalf of its clients, who include the likes of Revolut, Raisin, N26, and bunq.
The firm says it is now processing over one million trades per week, with revenue growing 25% per month on average.
Alongside the growth in recruitment, Upvest also plans to offer products more suited to local markets, including the UK following its recent authorisation by the Financial Conduct Authority.
Martin Kassing, CEO and co-founder of Upvest, says: “With the capital, we will conquer new markets, build exciting new products faster, and serve prime fintechs and financial institutions alike."