--- url: 'https://qubit.capital/blog/europe-series-b-plus-weekly-funding-roundup-week-4-march-2026' title: 'Europe Series B+ Weekly Funding Roundup (Mar 17-24, 2026): $150.0M Raised Across 2 Deals' author: name: Sahil Agrawal url: 'https://qubit.capital/blog/author/sahil' date: '2026-03-24T03:26:02+05:30' modified: '2026-03-24T16:17:31+05:30' type: post summary: 'Europe''s late-stage startups raised $150M this week. Upvest scored $125M for securities infrastructure, Evervault landed $25M for data encryption.' categories: - Weekly Funding Roundup image: 'https://qubit.capital/wp-content/uploads/2026/03/featured-europe-series-bplus-64637.webp' published: true --- # Europe Series B+ Weekly Funding Roundup (Mar 17-24, 2026): $150.0M Raised Across 2 Deals Two European startups pulled in a combined $150 million in late-stage funding this week, with the bulk going to financial infrastructure. Berlin-based Upvest closed a $125 million round to expand its securities API platform across the continent, while Dublin’s Evervault raised $25 million to scale its data encryption tools. Meanwhile, Europe’s Series A market saw $90 million flow into three separate deals, a sign that earlier-stage capital continues to move alongside these larger checks. The common thread across both rounds: infrastructure plays that sit behind the scenes. Neither company sells directly to consumers. They build the plumbing that banks, fintechs, and developers plug into. That model, once proven, tends to generate sticky revenue and deep switching costs. Investors are clearly betting that Europe’s regulatory complexity is a feature, not a bug, for companies that learn to navigate it. Weekly Funding Roundup MAR 17-24, 2026 $150M TOTAL RAISED 2DEALS CLOSED MixedSTAGE $75MAVG DEAL SIZE EUROPETOP REGION BY STAGE Series B+ ($90M equity + $35M debt facility)$125M83% Series B$25M17% BY SECTOR UpvestFintech / Securities Infrastructure$125M EvervaultCybersecurity / Data Encryption$25M Table of Contents - [1. Upvest Raises $125M for Investment API Infrastructure Across Europe](#1-upvest-raises-$125m-for-investment-api-infrastructure-across-europe) [Deal Overview](#deal-overview) - [Investor Profile](#investor-profile) - [Company and Leadership](#company-and-leadership) - [Problem and Opportunity](#problem-and-opportunity) - [Product and Technology](#product-and-technology) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision) - [Market Context](#market-context) - [2. Evervault Raises $25M Series B for Data Encryption Infrastructure](#2-evervault-raises-$25m-series-b-for-data-encryption-infrastructure) [Deal Overview](#deal-overview-1) - [Investor Profile](#investor-profile-1) - [Company and Leadership](#company-and-leadership-1) - [Problem and Opportunity](#problem-and-opportunity-1) - [Product and Technology](#product-and-technology-1) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-1) - [Market Context](#market-context-1) - [Lessons For Founders](#lessons-for-founders) ## 1. Upvest Raises $125M for Investment API Infrastructure Across Europe ### Deal Overview - **Stage:** Series B+ ($90M equity + $35M debt facility) - **Sector:** Fintech / Securities Infrastructure - **Geography:** Berlin, Germany - **Round Size:** $125M - **Valuation:** €640M ### Investor Profile Sapphire Ventures and Tencent co-led the round, with Bessemer Venture Partners and BlackRock also participating. Sapphire has backed Upvest since its €100M Series C in late 2024, and Bessemer has been on the cap table since the €40M Series B in 2022. Tencent’s involvement adds a strategic dimension: the Chinese tech giant operates one of the world’s largest fintech ecosystems through WeChat Pay. BlackRock’s participation brings credibility from the world’s largest asset manager, a signal that institutional finance sees Upvest as legitimate infrastructure rather than just another startup. ### Company and Leadership [Upvest](https://upvest.co) was founded in 2017 by Martin Kassing, Tobias Auferoth, and Dr. Til Rochow. Kassing, the CEO, previously sold a fintech company to Klarna and has over 15 years in capital markets. Auferoth came from Goldman Sachs and UBS. Rochow built products at Raisin and holds a PhD on retail investor behavior. The company now employs roughly 280 people across Europe and the UK. ### Problem and Opportunity European retail investment is dramatically underpenetrated compared to the US. Banks and fintechs want to offer investment products to their customers, but building securities infrastructure from scratch requires regulatory licenses that take years to obtain, plus the technical machinery for order execution, custody, settlement, and corporate actions. Most legacy banking cores weren’t designed for modern securities trading, and rebuilding them is a multi-year project few institutions want to undertake. ### Product and Technology Upvest isn’t just a software vendor. It’s a regulated securities institution in both Europe and the UK, providing API-first infrastructure that covers the full securities lifecycle. Banks, brokers, and fintechs plug into Upvest’s APIs to offer investment products under a B2B2C model that’s invisible to end users. The client list speaks for itself: Revolut, N26, DKB, Santander’s Openbank, Webull, and Raisin. The company processed over 100 million orders in 2025, with double-digit monthly growth. Recent additions include AI-driven programmable execution APIs and localized pension products for Germany and the UK. The moat here is structural. Regulatory licensing takes years and significant capital. Once a bank migrates real customer assets onto the platform, switching costs are enormous. Raisin, for instance, migrated single-digit billions in assets under management to Upvest’s rails. ### Use of Proceeds and Vision The equity portion will fund geographic expansion into France, Italy, and Spain, along with the rollout of pension products like Germany’s Altersvorsorgedepot and UK SIPPs. The $35M debt facility provides balance sheet capital for custody and settlement operations. Upvest positions itself as the “Stripe for investment infrastructure in Europe,” aiming to serve what it calls the next 100 million European investors. ### Market Context Regulatory tailwinds are strong. The EU Capital Markets Union, Germany’s new pension scheme, and the UK’s retail investing push all create demand for modern securities infrastructure. Competitors like DriveWealth focus on the US market, Bux targets consumers directly, and traditional clearinghouses like Euroclear weren’t built for API-first integration. No other company combines Upvest’s tech-forward approach with European regulatory standing and an institutional client roster of this caliber. ## 2. Evervault Raises $25M Series B for Data Encryption Infrastructure ### Deal Overview - **Stage:** Series B - **Sector:** Cybersecurity / Data Encryption - **Geography:** Dublin, Ireland - **Round Size:** $25M - **Valuation:** Undisclosed ### Investor Profile Ribbit Capital led the round, joined by Index Ventures, Sequoia Capital, Kleiner Perkins, and Operator Partners. That’s a rare concentration of top-tier Silicon Valley firms backing a Dublin-based company. Ribbit specializes in fintech infrastructure, which aligns with Evervault’s core use case of helping companies handle sensitive financial and consumer data. Having Sequoia and Kleiner Perkins on the cap table signals confidence in the company’s ability to compete globally from a European base. ### Company and Leadership [Evervault](https://evervault.com) is a Dublin-based data encryption platform built for developers. The company has grown revenue 4x year over year and now processes over $5 billion in transaction volume. Details on founding team and headcount remain limited, but the investor roster and growth metrics tell their own story. ### Problem and Opportunity Handling sensitive consumer data, whether it’s credit card numbers, personal identifiers, or health records, is a compliance headache that gets worse every year. Regulations like GDPR, PCI DSS, and HIPAA impose strict requirements on how data is stored and transmitted. Most developers aren’t security specialists, and building encryption infrastructure in-house is expensive and error-prone. A single data breach can cost millions in fines and reputational damage. ### Product and Technology Evervault gives developers tools to encrypt, process, and share sensitive data without ever exposing it in plaintext. The platform handles the cryptographic complexity so engineering teams can focus on building their products. Processing $5 billion in transaction volume suggests deep integration with payment flows and financial services, where data security requirements are strictest. The 4x revenue growth indicates the product is finding pull across its target market. ### Use of Proceeds and Vision The $25 million will likely go toward scaling the platform, expanding the engineering team, and pushing deeper into financial services and healthcare, two sectors where encryption requirements are non-negotiable. As AI applications proliferate and handle increasingly sensitive data, the demand for developer-friendly encryption infrastructure should only grow. ### Market Context The data security market is large and growing, driven by regulatory pressure and increasing breach frequency. Evervault competes in a space that includes established players like Protegrity and Virtru, alongside cloud-native encryption from AWS, Google, and Azure. Its edge lies in developer experience and ease of integration. Building from Dublin gives it proximity to Europe’s regulatory environment while the US investor base positions it for global expansion. ## Lessons For Founders - **Regulatory moats compound over time.** Upvest spent years obtaining securities licenses across Europe and the UK. That investment now acts as a barrier competitors can’t shortcut. If your business requires regulatory approval, the pain of getting licensed early pays off as a durable competitive advantage. - **Infrastructure beats application in B2B durability.** Both companies this week sell picks and shovels, not the gold. Upvest powers investment products for banks; Evervault handles encryption for developers. Infrastructure businesses tend to be stickier because switching costs are high and the product becomes embedded in customers’ core operations. - **Europe’s complexity is a feature for those who master it.** Fragmented regulation across EU member states creates friction, but that friction protects companies that learn to navigate it. Upvest’s expansion into France, Italy, and Spain would be trivial in a single-regulation market. In Europe, each country adds another layer of defensibility. - **Top-tier US investors will back European companies with global ambitions.** Evervault’s cap table reads like a who’s who of Sand Hill Road. European founders don’t need to relocate to raise from the best firms. Strong metrics and a clear path to global scale are what matter.