Investment infrastructure provider Upvest is accelerating its UK expansion following regulatory approval, appointing former Starling Bank executive Symmie Swil as UK General Manager to lead its growth strategy in the region.

Upvest Expands to UK, Names Former Starling Bank Executive as GM

The Berlin-based fintech, which processes over 2 million investment orders weekly across 20 markets, received Financial Conduct Authority (FCA) approval in 2024 and aims to establish partnerships with three UK clients by year-end. The company provides an Investment API that enables financial institutions to offer investment products across ETFs, stocks, and mutual funds.

"The UK has a strong legacy of financial innovation, yet there's still so much untapped potential to empower individuals in taking control of their wealth," said Swil, who joins Upvest after previously scaling Starling Bank's SME banking division. "Our solution makes it easy for any financial institution - whether it's a fintech or a bank - to offer compelling and affordable investment opportunities to their end users."

Swil brings nearly 20 years of financial sector experience to the role. During her tenure at Starling Bank, she grew the SME customer base from 150,000 to 450,000 accounts and tripled deposits from £2 billion to £6 billion within 18 months. Her career also includes serving as Deputy COO and Head of Business Operations at Investec's Corporate and Investment Bank and most recently as COO at fintech firm Finverity.

Targeting UK's Investment Gap

Upvest plans to establish a new UK headquarters in London's Shoreditch district and expand its London-based team to approximately 50 employees in the coming months, complementing its existing 200-person workforce across Europe.

The company sees significant growth potential in the UK market, where an estimated 60% of adults don't actively invest. Recent analysis suggests approximately 13 million UK adults hold around £430 billion in cash that could be deployed in investments - a gap that Upvest aims to address through its technology infrastructure.

"Symmie is the ideal person to lead our UK efforts," said Martin Kassing, CEO of Upvest. "With her unique combination of banking and fintech experience, she has a deep understanding of our clients' objectives and the role technology can play in achieving them."

Expansion Plans

Beyond growing its market presence, Upvest intends to enhance its product offerings with additional localized tax and pension wrappers, including Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), along with expanding into new asset classes such as derivatives, bonds, and European Long-Term Investment Funds (ELTIFs).

Founded in 2017, Upvest works with European financial institutions including N26, bunq, Raisin, Plum, Shares, and Revolut. The company secured €100 million in Series C funding led by Hedosophia and Sapphire Venture, with participation from investors including Bessemer Venture Partners, BlackRock, and Earlybird.

The firm anticipates tripling its current order rates by the end of the year as it continues its European expansion and strengthens its UK presence.