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[Funding alert] Berlin-based Fintech Startup Upvest has Raises €30 million in Funding

Oct 11, 2023 | By Startup Rise EU

Berlin-based fintech startup Upvest has raises €30 million in funding, led by BlackRock to make investing more accessible for millions of investors across Europe.
Team - Upvest

Berlin-based fintech startup Upvest has raises €30 million in funding, led by BlackRock to make investing more accessible for millions of investors across Europe.

BlackRock’s broad asset management expertise and leadership in ETFs combined with Upvest’s efficient investment API can power investment offerings for millions of investors.

Read also - London-based fintech Startup Untangled Raises €12.8 million in Funding

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Wealth managers, banks and fintechs can build modern investment experiences in months instead of years, relying on Upvest’s efficient, low-friction API based infrastructure offering. Upvest’s offering will remain an open architecture.

Read also - Insulation Startup VARM Secures a Seven-Figure Pre-Seed Round of Funding

Millions of Europeans have embraced investing over the past years2 with many more expected to participate in financial markets in the years ahead. New propositions have emerged allowing low-cost, low-friction access for a new generation of first-time investors.

Read also - London-based Lottie Secures €20 million Series A Round Funding

Timo Toenges, Head of iShares EMEA Digital Wealth business at BlackRock, comments: “Millions of Europeans are embracing investing for the first time to build a better financial future for themselves. BlackRock’s partnership with Upvest will drive innovation in how Europeans access markets and make it cheaper and simpler to start investing. Across Europe ETFs are at the core of these new propositions and often the default choice for investors, as a transparent, low cost and easily understood starting point for a new generation of investors.”

Martin Kassing, Co-founder and CEO at Upvest, adds: “One of the world’s leading providers of investments meets leading European investment infrastructure. We are incredibly proud of this partnership as a way to increase investment adoption for millions of people. 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.”

These new investment propositions, with many powered by Upvest, can benefit from efficient, low-friction infrastructure to reduce transaction costs and allow access from small investment amounts, enabled by innovations such as fractional dealing of ETFs and stocks.

Read also - Italian Aquaponic firm The Circle Raises €2.1M in Funding

Both fintechs, such as neo brokers and neo banks, and established banks and brokers can benefit from these capabilities to power their offerings.

About Upvest

Upvest, founded in 2017, enables any financial institution to offer great investment experiences to its customers. Upvest’s Investment API offers a wide range of investment products such as stocks and ETFs in nominal, portfolio, and fractional form. Its mission is to make investing as easy as spending money.

Read also - Luxembourg-based Ecommerce Platform MarketLeap Secures €1.5 million in Seed Funding

‍About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock.

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