Upvest, a Berlin-based startup offering a plug-and-play API for fintechs entering the investment market, has raised €30 million and secured a deal with BlackRock to make investing more accessible for millions of people across Europe.
Designed as a simple gateway API that is easy to integrate into existing infrastructure, Upvest’s technology enables fintechs to develop and create investment products across a variety of use cases, ranging from crypto trading to fractional investing, while still adhering to European regulations.
Upvest holds BaFin licences for securities,crypto brokerage and custody, and has struck partnership agrements with BNP Securities for custodial services and ABN Amro for payments.
The deal with BlackRock will see the firm lean on the former's heft and investment expertise as it broadens its offering to larger financial institutions.
Martin Kassing, co-founder and CEO at Upvest, says: “With only a fraction of the European population investing in stocks and ETFs, we feel the urge to provide a better investment infrastructure to companies facilitating easy and affordable investment experiences. Together with BlackRock’s investment expertise, we can now serve any financial institution to upgrade their investment offering.”
As part of the partnership, BlackRock participated in Upvest’s €30m 2023 funding round alongside existing investors Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital.