Berlin-based fintech Upvest (https://upvest.co) is currently one of the most highly regarded companies in the industry. Most recently, it attracted attention as it received a BaFin license allowing it to offer B2B customers investment brokerage and custody services via an API. Now Upvest is deepening its partnership with ABN Amro, which is already connected through its investment arm.
The venture capital arm ABN AMRO Ventures has already been accompanying Upvest since 2021 and allegedly invested five million euros. Together with other investors such as Earlybird, HV Capital, Notion Capital, Speedinvest, and Partech a total of €12 million have been invested in Upvest. N26 founder Maximilian Tayenthal and IDnow founder Felix Haas are also investors of Upvest, founded in 2017 by Martin Kassing.
Brokerage-as-a-Service as a white label
With the announced expansion of the partnership, Upvest customers will be able to offer their end customers payment processing for their investment transactions via the bank. The company provides an interface that allows fintech to provide its clients access to investment opportunities, including ETFs and equities.
With the expanded partnership, Upvest is now planning its pan-European growth. Speed is now of the essence. Not only Solarisbank is currently working on the so-called “Brokerage-as-a-Service”, but also the Berlin-based competitor Lemonmarkets. The latter also offers an infrastructure for financial service providers and is supported by Lakestar, a well-known investor.
Not only Upvest work on the offer
Behind the “as-a” offering is a white-label solution for automated investments in funds, stocks, and cryptocurrencies. It is designed to help banks provide the right solutions for their customers to focus on their core business.
“Choosing the right partners is key to our ambitious growth plans to bring our technology solution to as many people as possible,” commented Martin Kassing and continued “We want to become the technology backbone for all B2B companies that want to offer their end customers reliable and secure access to capital markets and crypto-assets.”