BlackRock Invests in German Fintech Targeting New Investors
- Asset manager part of €30 million Upvest funding round
- Upvest enables first-time investors with as little as €1
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BlackRock Inc. has taken a minority stake in a German digital wealth business as the world’s largest asset manager seeks to broaden its reach to first-time investors in Europe.
The New York-based firm participated in a €30 million ($31.8 million) funding round for Upvest, a Berlin-based fintech founded in 2017 that provides settlement and custody infrastructure for digital wealth management. It invested alongside Upvest’s existing backers Bessemer Venture Partners, HV Capital, Earlybird, Notion, ABN Amro Ventures and 10x Capital.