Upvest Secures \u20ac100 Million to Expand Investment Platform
Key Highlights
- Berlin-based Upvest raises \u20ac100 million in Series C funding.
- Funding round led by Hedosophia, with participation from Sapphire Ventures, Bessemer Venture Partners, and BlackRock.
- Upvest provides a white-label investment platform used by major European fintechs like Bunq, N26, Plum, Raisin, Revolut, Shares, and Vivid.
- The platform currently reaches 50 million users and processes 20 million orders in 2024 alone.
- Upvest plans to expand its offerings to include crypto, derivatives, ELTIFs, bonds, and support for local investment solutions like PEA, ISA, and SIPP.
Expansion and Future Plans
Upvest's recent FCA authorization allows it to operate in the U.K., expanding its reach beyond the Eurozone. The company aims to enhance its platform by incorporating local investment products like the French PEA, U.K. ISA, and SIPP. This strategic move will create a competitive advantage against rivals such as Bitpanda, which also offers white-label solutions to fintech companies like Lydia and N26.
With the new funding, Upvest is well-positioned for growth and aims to support millions more customers. The company has seen significant trading volume, processing approximately one million trades per week. For more information on related fintech developments, check out articles on VC funding trends and other tech updates.