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Upvest Raises €100M in 2024 Series C; Later Funding Announcements Followed

Upvest’s $105 million headline was its €100 million 2024 Series C. The company later reported separate 2026 funding milestones as it expanded investment infrastructure for banks and fintechs.
From TheFinanceBase Team4 min to read
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Upvest’s headline-making $105 million raise refers to a €100 million Series C announced in December 2024—not its latest reported financing. Upvest provides investment infrastructure that banks and fintechs use to offer stocks, ETFs and other investment features in their own apps. Company materials describe additional funding milestones in 2026, which are separate announcements with different currencies and financing details.

What Upvest does

Upvest is a business-to-business investment infrastructure provider. Its API lets financial institutions build customer-facing investment services, while the institution’s own app is generally where its customers encounter those services. Upvest’s API documentation describes features including fractional investments, portfolios, savings plans and roundups: Upvest API documentation.

Upvest says it was founded in Berlin in 2017. The company reports receiving BaFin licences in 2022 and FCA licences in 2024. It also says it opened a London office in 2025, served clients in more than 20 markets that year and passed 100 million annual orders. These are company-reported milestones, not independent measures of its market position: Upvest company page.

What the $105 million headline means

On December 11, 2024, TechCrunch reported that Upvest had raised €100 million in a Series C, described in the headline as approximately $105 million. Hedosophia led the round; Sapphire Ventures and existing investors Bessemer Venture Partners and BlackRock also participated. Upvest did not disclose its valuation. TechCrunch characterized it as significantly higher than after the company’s $42 million Series B. TechCrunch’s December 2024 funding report.

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The same report said Upvest had processed 20 million orders in 2024 and was handling around one million trades per week recently at the time. Those figures describe the activity reported in that 2024 article; they should not be read as current operating totals.

How Upvest fits into a bank or fintech app

Upvest supplies infrastructure; the client institution determines the customer-facing offer and presents it in its own app. The distinction matters: a user trading through a bank app is using that institution’s product, even when Upvest provides underlying investment capabilities.

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N26’s 2024 stocks and ETFs launch

N26 announced on January 17, 2024 that it would gradually launch stocks and ETFs in its app, powered by its partnership with Upvest. N26 said the rollout would begin in Austria, with fractional investments from €1 and a €0.90 charge per trade at launch; it planned to expand to Germany and later additional markets. These were launch-era terms and do not establish current fees or availability. N26’s launch announcement.

Other client relationships

Upvest’s client-story page names Revolut, Raisin, N26, DKB, Zopa and IG Europe. Those examples come from Upvest’s own published materials. The page includes a statement from Rolandas Juteika, Revolut’s Head of Wealth and Trading (EEA), saying Upvest was Revolut’s preferred choice when seeking a partner to provide European customers access to EEA-listed stocks and ETFs. Upvest client stories.

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Upvest’s later funding announcements

Upvest’s company page lists a €105 million funding round in 2026. Separately, a later Upvest post described $125 million in funding: $90 million in equity led by Sapphire Ventures and Tencent, plus a $35 million debt facility that Upvest said it was still finalising in that post. The company materials do not establish that the debt facility subsequently closed, so the announcement should not be treated as confirmation of a completed facility. The €105 million company-page milestone and $125 million post have different currencies and contexts; the available descriptions do not establish that they are identical reports of the same figure.

In the funding post, Upvest said it served more than 30 clients and processed more than 100 million orders annually. It named DKB, Santander’s Openbank, Revolut and N26. The company said the funding would support localised products, including Germany’s Altersvorsorgedepot and UK SIPPs, as well as expansion of AI-driven investment capabilities. These are figures and plans attributed to Upvest, not independently verified results. Upvest’s funding announcement.

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What institutions should consider when evaluating investment infrastructure

A funding headline alone does not show whether an investment API is a fit for a particular bank or fintech. Relevant questions include the local product rules, operational responsibilities and licensing arrangement.

  • Local products and wrappers: Requirements differ by market. TechCrunch cited France’s PEA and UK ISAs and SIPPs as examples of wrappers that can affect product fit. Upvest has said it plans to support localised pension products.
  • Supported operations and assets: Compare the provider’s actual API capabilities with the institution’s intended offer, such as fractional investing, portfolios, savings plans or roundups.
  • Licensing and account model: Upvest documents three operating models: using Upvest’s licence for single accounts, using the client’s own licence for single accounts, or using the client’s own licence for omnibus accounts. Which model applies affects the division of regulatory and operational responsibilities. See the API documentation.
  • Implementation and ongoing operations: An institution needs to assess integration work and the continuing processes required to run its investment service. The financing announcements do not provide enough detail to compare implementation effort or operational performance across providers.

The available information supports describing Upvest’s offering and named client examples, but not a neutral ranking against competing infrastructure providers.

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