Upvest
Also a provider — view Upvest’s profile →“Can a European, BaFin-regulated investment API become the default 'take our license' backbone for every neobank and SMB platform that wants to embed stocks, ETFs, mutual funds and treasury yield?”
Founded2017
HQBerlin, Germany
FoundersMartin Kassing
Total raised~$230M+
Latest roundSeries D, $125M
ValuationDoubled from $210M (Series C, 2024)
IndustryInfrastructure / Investment API
The story
Founded 2017 as Tokn UG, an early crypto/tokenization play. Pivoted to become an Investment API provider — a B2B2C 'take our license' platform that lets neobanks (N26, Revolut, Bunq, Vivid, Raisin) embed stocks, ETFs, mutual funds, and savings plans without taking on brokerage, custody or settlement licensing themselves. Operates as a BaFin-regulated investment firm in Germany with UK FCA authorization since 2024, expanding into money market funds for SMB platforms (SumUp 2026) as treasury yield becomes the next embedded product layer.
Last 12 months
Product timeline
2017
Founded in Berlin as Tokn UG, originally focused on tokenization/crypto investments· pivot
2021
Pivoted to Investment API for fintechs, neobanks and banks across Europe· pivot
2023
Raised funding at $210M valuation (Dealroom)· funding
2024
Received UK FCA authorization to operate in the UK· regulatory
2024
Raised €100M Series C led by Hedosophia, doubling valuation· funding
2025
Selected Clearstream for third-party fund processing, execution and distribution· banking
2025
Raised $125M Series D· funding
2026
Partnered with SumUp to launch in-app money market fund investing for merchants· lending
Regulated entities
2
regulatory licences held by Upvest
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Upvest’s embedded-finance stack
Banking / BaaS
Upvest Securities GmbH (in-house)
Accounting gap: none