Berlin-based plug-and-play pan-European securities API platform Upvest has scored €5m in an extension to its Series A round.
The fresh equity was supplied by Earlybird and comes a year after the FinTech bagged €7m in its initial Series A round. Investors to the former capital injection included Notion Capital, HV Capital, Partech and a number of FinTech angel investors.
Upvest’S Securities API is designed to transform the traditional securities infrastructure. Through a simple gateway API, FinTech organisations can develop and create investment products with greater flexibility.
FinTechs can use the software to offer investment products at scale across countries, providing access to a range of products, including ETFs, equities and commodities.
With the close of the round, the FinTech hopes to incorporate a brokerage bank license into its offering.
Earlybird VC partner Tim Rehder said, “An increasing demand from millennials for investment products, combined with negative interest rates, have led FinTech’s of all kinds to prioritize their expansion into an investment platform.
“Upvest lets those Fintech companies focus on their core business while providing a simple plug-and-play solution for integrating securities into their products. What seems simple is in fact a complex infrastructure, disrupting established national players across Europe. We are particularly excited to support Martin and the team in their journey of creating a new European category within B2B security infrastructure.â€
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