Upvest raises $125M at €640M valuation as European retail investing accelerates

The Berlin startup, now valued at €640M, counts Revolut, N26 and Santander’s Openbank among its clients after processing more than 100 million investment orders last year.

Twelve months after its last fundraise, Upvest has done it again, and at a price that suggests Europe’s appetite for investment infrastructure is still accelerating.

The Berlin-based fintech announced on Tuesday that it has raised $125M, a round composed of $90M in equity led by Sapphire Ventures and Tencent Holdings, alongside a $35M debt facility still being finalised at the time of publication. The round values the company at €640M, nearly double the €360M valuation it carried when it closed its previous round in December 2024.

Upvest builds the plumbing beneath Europe’s investing apps. Its API-based platform allows banks, neobanks, and fintechs to offer stock trading and investment products to their own customers without building the underlying infrastructure themselves.

Revolut, N26 ...