Upvest Raises US$125 Million to Modernise European Banking Infrastructure

2026-03-18 - 09:41

Upvest, a European investment infrastructure provider, has secured US$125 million in financing to support the modernisation of legacy banking systems across Europe and the UK. The US$90 million equity round is led by Sapphire Ventures and Tencent, with participation from existing investors including Bessemer Venture Partners and BlackRock. The company is also finalising a US$35 million debt facility to strengthen its capital base. As financial institutions face growing pressure to update monolithic systems and expand retail investment offerings, demand for Upvest’s modular, API-based infrastructure has risen. In 2025, the company processed over 100 million client orders, contributing to a higher valuation and a clear path to profitability. Upvest intends to use the new funding to support its B2B banking, wealth, and brokerage clients, including managing the complexity of local tax wrappers such as Germany’s Altersvorsorgedepot and UK SIPPs. This allows institutions to introduce pension products more quickly and with improved user experience and cost efficiency. The company is also rolling out AI-supported investment engines. Real-time, programmable execution APIs will enable financial institutions and AI developers to create personalised advisory services for retail investors at scale. Martin Kassing, CEO and co-founder of Upvest, said: Martin Kassig “The US$125 million round, just 12 months after our Series C, underscores our momentum to be the top choice for financial institutions launching and scaling investment experiences in Europe. We will use the capital to expand into Europe’s largest markets, supporting local pension products and the emerging AI investment economy.” Founded in Berlin in 2017, Upvest serves more than 30 financial institutions, enabling millions of end users to manage investments. Featured image credit: Edited by Fintech News Switzerland, based on image by freepik