Upvest, a German investment infrastructure provider, today announces a €108 million ($125 million) financing round to accelerate the modernisation of legacy banking systems across Europe and the UK.
The €78 million ($90 million) equity round is led by Sapphire Ventures and Tencent, with strong backing from existing investors including Bessemer Venture Partners and BlackRock. In addition, the company is also finalising a €30 million ($35 million) debt facility to further strengthen its capital base.
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 $125 million 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.”
EU-Startups reporting in 2025–2026 shows a steady flow of capital into financial infrastructure startups adjacent to Upvest’s segment, particularly across payments, open banking, and API-led banking modernisation.
Notable examples include:
- Devengo (Madrid, €2 million, to scale account-to-account payment infrastructure)
- Open Payments (Sweden, €3 million, to expand its B2B financial integration platform)
- Payrails (Berlin, €27.7 million, to accelerate product development and expand across EMEA)
- Two (Norway, €13 million, to scale B2B payments infrastructure)
- Navro (UK, €36 million, to expand global payments and regulated financial flows)
- Yaspa (UK, €10.1 million, to grow open banking-based payment solutions)
- Due (London, €6.3 million, to launch a stablecoin-based payments API).
Combined, these rounds total approximately €98 million.
Within this context, Upvest’s €108 million raise is notably larger than the combined funding of several adjacent infrastructure players and signals continued investor interest in deeper layers of financial services.
Upvest’s focus on modernising legacy investment infrastructure – particularly for banks and brokers – positions it in a more specialised segment, with Germany again appearing as a key hub for B2B FinTech infrastructure alongside players like Payrails.
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.”
Founded in 2017, Upvest is a rech company and regulated securities institution that provides banks, brokers, and wealth managers with API-based infrastructure for their securities business. Beyond software, Upvest provides end-to-end trading, custody, and back-office services. This reportedly 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. The company processes over 100 million trades annually.
“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,” continues Andreas.
Upvest will leverage the new capital to deliver strategic advantages to its B2B banking, wealth and brokerage clients. This includes absorbing the complexity of new local tax wrappers, such as the Altersvorsorgedepot in Germany and SIPPs in the UK, allowing financial institutions to bring high-demand pension products to market in months rather than years, with best-in-class UX and costs.
Furthermore, Upvest is rolling out AI-supported investment engines. By providing real-time, programmable execution APIs, Upvest looks to empower AI developers and financial institutions alike to build autonomous, hyper-personalised advisory services to everyday retail investors at scale.
Read the orginal article: https://www.eu-startups.com/2026/03/berlins-upvest-raises-e108-million-to-scale-securities-infrastructure-for-banks-and-fintechs/
