N26 moves into stocks and ETFs via Upvest partnership
N26 may have been pulling back from its international expansion plans but is doubling down on its digital wealth strategy.
N26 has launched a new investing feature through a partnership with fintech infrastructure provider Upvest.
More specifically, N26 - which is Germany's largest digital bank - will launch stock trading and access to a range of ETFs.
Upvest will provide all necessary licences for securities, brokerage, and custody, as well as that will be fully integrated within the N26 app.
“We have chosen to deliver our investment offer in collaboration with a trusted and reliable partner. Upvest provides us with a secure, scalable, and compliant platform, enabling N26 to focus on building a world-class user experience at a market-leading price point,” Valentin Stalf, CEO and co-founder of N26 said.
Headquartered in Berlin, N26 says it has onboarded 8 million customers since its launch a decade ago in 24 different countries, although does not say how many are now active customers in its core markets, having exited the Brazilian market recently as well as the US and UK in 2021 and 2020, respectively.
Upvest, founded in 2017 by Martin Kassing, recently raised €30m in a round led by BlackRock, alongside its previous investors Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital.
“We are more than proud to support Germany’s largest digital bank in launching their investment proposition”, Martin Kassing, CEO and co-founder of Upvest said.
"This collaboration is exciting as millions of users at N26 will now have access to a wide variety of stocks and ETFs. We are proud to be N26’s investment infrastructure of choice,” he added.