Germany’s Upvest embeds Deutsche Bank’s banking infrastructure to expand its product range

Upvest, a Berlin-based fintech, has formed a strategic partnership with Deutsche Bank to expand its product offerings.
Upvest was founded in 2017 and provides custody, trading, and settlement infrastructure for financial services firms to offer a wide range of investment products.
The partnership will allow Upvest to integrate Deutsche Bank’s banking infrastructure into its services, enabling features such as virtual IBANs, end-user cash management, automated payment processing, and foreign exchange services.
Martin Kassing, Upvest’s CEO and co-founder, stated that Deutsche Bank’s fintech expertise and tech focus will support Upvest’s ambitious growth plans.
Deutsche Bank emphasized its goal to enhance its services to fintech companies through this partnership.
Galina Kersten, head of tech and fintech sales EMEA at Deutsche Bank, expects close collaboration with Upvest to offer pan-European, instant, and API-based solutions in payments, FX, and more.
Upvest secured €30 million in funding led by BlackRock in October last year and raised $42 million in a Series B round in June 2022.
Earlier this year, Deutsche Bank announced plans to cut around 3,500 jobs as part of a €2.5 billion operational efficiency program.