Marvel has its sequels. We have ours. Today, we’re proud to lead Upvest’s $125M financing, expanding our partnership with the Upvengers, the fintech heroes who are rapidly helping to build the backbone of Europe’s modern investment infrastructure.
When we co-led Upvest’s Series C just over a year ago, we wrote about a team on a mission to overhaul the outdated infrastructure holding back the European investing landscape. Since then, CEO Martin Kassing and team have delivered, establishing Upvest as a platform of choice for banks, brokers, wealth managers, and fintechs building the next generation of digital investing experiences. We’re thrilled to continue backing the team as they scale the platform powering the future of investing in Europe.
A Year of Breakout Progress: Execution at Scale
When we first partnered with Martin and the Upvest team, we were captivated by their simple but ambitious mission: investing in Europe should be as easy as spending money. Just over a year since co-leading their Series C, that mission has only grown more urgent – and we believe the company continues to fire on all cylinders:
- Demonstrated platform scalability. Upvest is building infrastructure that clients love and that scales by default across Europe’s fragmented financial landscape, processing 100M+ orders annually for 30+ financial institutions.
- Financial institution traction. Upvest continues to deepen relationships with partners like Revolut, N26, and Raisin while adding leading banks and fintechs, including DKB, Santander’s Openbank, Webull, Salt Bank, Zopa Bank, and LIQID, with more announcements coming soon 🙂.
- Rapid product innovation. Upvest is expanding into new asset classes, tax wrappers, and pension products while launching AI-powered investment engines that enable autonomous, hyper-personalized retail investing experiences at scale.
- A leadership team built for what comes next. Martin continues to assemble an exceptional leadership bench, including Roberto Fajardo (SVP Engineering), Symmie Swil (GM UK), and Eric Sager (Non-Executive Board Advisor) – strengthening the team building Europe’s next-generation investment infrastructure.
The Next Chapter: Powering the Next Generation of AI-Driven Investing
Martin Kassing, CEO, Upvest
Martin and the team are building toward a bold vision to become the platform powering any investment product for any investor anywhere in Europe. This new financing will accelerate Upvest’s push to build the most complete, localized, and scalable investment platform across any asset class, while establishing the data and AI backbone for the next generation of investment services. We believe Upvest’s timing could not be better.
2025 was a record year for European ETFs with growing strength from retail, which now accounts for 30% of fund assets in Europe. Moreover, landmark pension reform in markets like Germany requires capabilities like real-time data, instant account opening, fractional investing, automated tax handling, and reporting at scale. All of which Upvest is uniquely positioned to serve.
If the past year is any indication, the team is only just getting started. We could not be more excited to continue partnering with Martin and the Upvengers on the journey ahead. To learn more about Upvest’s products visit here, and opportunities to join the Upvengers here.
*The $125M financing round for Upvest was made up of $90M equity investment and $35M as part of a debt facility.
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This article is for informational purposes only. Nothing presented within this article is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire. Information provided reflects Sapphires’ views as of a time, whereby such views are subject to change at any point and Sapphire shall not be obligated to provide notice of any change. Companies mentioned in this article are a representative sample of portfolio companies in which Sapphire has invested in which the author believes such companies fit the objective criteria stated in commentary, which do not reflect all investments made by Sapphire. A complete alphabetical list of investments made by Sapphire’s Growth strategy is available here. No assumptions should be made that investments listed above were or will be profitable. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. Nothing contained in this article may be relied upon as a guarantee or assurance as to the future success of any particular company. Past performance is not indicative of future results.
