Berlin-based Upvest, which offers an API for stock trading and other financial services to N26, Revolut, and others, raised a €100M Series C led by Hedosophia
which powers stock trading on Revolut, N26, Bunq — secures €100M Vigneshwar Ravichandran / Silicon Canals : Berlin-based fintech firm Upvest secures €100M from Hedosophia, Bessemer, BlackRock, others
Context & Ripple Effects
Upvest had previously raised a $42M Series B for banking-as-a-service APIs, including securities and crypto licensing, positioning the company as infrastructure rather than a consumer-facing broker.
The new round extends that infrastructure bet around trading features used by neobanks. Its later equity raise at a higher reported valuation suggests investors continued to value the distribution model through financial-service platforms.
First-order effects
- Upvest gains €100M to expand the trading and financial-services API stack used by Revolut, N26 and Bunq, while Hedosophia joins existing backers including Bessemer and BlackRock.
- The company’s platform customers gain a better-capitalized supplier for offering investing features without building the underlying trading infrastructure themselves.
Second-order effects
- Other banking- and brokerage-infrastructure providers face added pressure to match Upvest’s product breadth, licensing footprint and ability to serve large neobanks.
- For neobanks, outsourced trading infrastructure can lower the barrier to adding or improving investing products, making the quality and economics of API partners more consequential.
Third-order effects
- If this model continues to attract capital, retail investing is likely to be increasingly packaged as an embedded capability within broader financial apps rather than a standalone brokerage experience.
- That shifts strategic leverage toward regulated API platforms: a small number of infrastructure vendors could become critical intermediaries between consumer finance brands and market access.
The trend: The round is part of the embedded-finance shift in which regulated APIs turn investing features into modular infrastructure for neobanks and other financial platforms.