Blockchain startup Upvest secures $ 7.8 million in Series A funding, targeting "10 trillion euros" alternative investment asset class

Upvest is a German startup that helps companies tokenize financial assets on the blockchain. The company officially announced today that it has raised € 7 million (about $ 7.8 million) in Series A financing.

upvest

According to a statement issued on Thursday, the round was led by London-based venture capital firm Notion Capital, with Partech Ventures and Holtzbrinck Ventures participating in the financing.

With new funding, Upvest plans to expand its platform or blockchain API to help companies tokenize financial assets such as real estate and private equity. "The easy-to-use API we provide facilitates the adoption of decentralized ledgers and creates a more inclusive financial ecosystem," said Martin Kassing, founder and CEO of Upvest.

The company said that its API has been used by companies from more than 80 countries, including German-based real estate crowdfunding platform Exporo and blockchain banking service Bitwala.

"With Upvest's solution, we can save 85% of storage and secure distribution costs," said Simon Brunke, CEO of Expro.

Speaking of leading this round of funding, Patrick Norris, a general partner at Notion Capital, said the venture capital firm expected the blockchain to cause "substantial disruption" to the financial services industry.

Jan Miczaika, a partner at Holtzbrinck Ventures, added:

"Upvest impressed us with our efforts to find real and repeatable use cases for the blockchain. It is one of the few companies in the field that brings actual revenue and clear ROI (return on investment) to customers . "

Upvest was founded in 2018 and currently has 20 employees, designed to help tokenize a “10 trillion euros” alternative investment asset class. The company says:

"So far, fintech companies have been forced to demand high minimum investments due to high issuance, distribution and storage costs. This has prevented investment platforms from providing this huge asset class to the public."

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