ABN AMRO and Berlin-based fintech Upvest to cooperate on transaction banking
Frankfurt am Main, May 20 2022 - Dutch bank ABN AMRO and the Berlin-based infrastructure fintech Upvest are expanding their partnership. The two companies will cooperate in the area of transaction banking in the future. Through the partnership, Upvest’s B2B clients can now offer their end customers payment processing for their investment transactions via one of Europe’s most renowned banks.
ABN AMRO has already been supporting Upvest since 2021 through its venture capital arm ABN AMRO Ventures. By cooperating, both partners will now benefit from their capital market expertise and IT competence.
Upvest’s technological interface enables fintechs such as neobanks and brokers to provide their end customers with reliable and secure access to the full range of investment opportunities, from equities and ETFs to cryptocurrencies. The long-term goal of the collaboration is to strengthen the intersection of banking and tech expertise to accelerate the development of innovative fintech solutions.
“We are convinced that brokerage will establish itself as an integrated financial offering for current banks such as ABN AMRO as well as for new and emerging financial service providers. With its platform, Upvest is well positioned to enable this across borders, markets and products. This is just the beginning of the exciting journey that lies ahead,” explains Tim Wanders of ABN AMRO Ventures. “Upvest is one of the few European startups that combine a deep understanding of capital markets with outstanding tech expertise. Therefore, we are very excited about expanding our partnership and working even closer together on a day-to-day basis.”
“We are very pleased to further expand our trusted partnership with ABN AMRO, one of the most renowned European banks”, adds Martin Kassing, CEO of Upvest. ”Choosing the right partners and creating win-win situations is key to our ambitious growth plans, making our technology solution available to as many people as possible. Our long-term goal is clear: We want to become the technological backbone for all B2B companies seeking to provide their end-customers with reliable and secure access to the capital markets and crypto assets.”
About UPVEST
About ABN AMRO VENTURES
ABN AMRO Ventures is ABN AMRO’s corporate venture fund focused on (fin)techs. It invests in innovative companies that specialise in the digitalisation of financial products, services and infrastructure. With EUR 150 million of assets under management, the fund has stakes in 20 companies.More details here:
https://www.abnamro.com/en/about-abn-amro/product/abnamro-ventures
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