BlackRock has joined Sapphire Ventures, Tencent, and Bessemer Venture Partners in backing a $125m funding round for German fintech Upvest, valuing the company at about $735m.

The transaction includes $90m in equity financing, alongside discussions for a $35m credit facility, as the company seeks to accelerate growth.

The valuation marks a significant increase from €360m in its previous fundraising in December 2024, according to sources familiar with the matter cited in a Bloomberg report.

Upvest provides brokerage infrastructure to neobanks and retail lenders, including Revolut, N26, Banco Santander’s Openbank, and DKB.

The company plans to use the new capital to expand its platform and roll out AI-supported tools aimed at delivering personalised advisory services.

Upvest is targeting profitability and aims to exceed €100m in annualised revenue within the next 24 months.

The funding round highlights continued investor interest in fintech infrastructure providers that enable banks and digital platforms to scale their investment offerings.

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