Plum Selects Upvest to Power UK Investment Infrastructure in Major Expansion

Plum has selected Upvest to power its investment functionality in the United Kingdom, consolidating its brokerage and custody infrastructure under a single provider. For fintech professionals, this migration signals a shift away from fragmented multi-vendor setups toward unified API-first architectures that streamline cross-border operations and reduce operational complexity.

What was announced

Plum is extending its existing partnership with Upvest to include the UK market, building on a collaboration that began in 2023 to support Plum’s expansion across continental Europe. By adopting Upvest’s Investment API in its home market, Plum replaces a multi-provider structure that previously involved several different entities across the investment value chain.

The new arrangement provides Plum with a streamlined brokerage and custodian structure, designed to offer a simpler operating model with fewer integration points. Upvest’s infrastructure enables Plum to deliver modern investment features, including fractional investing starting from £1 and automated recurring investments. The platform boasts over 99% automation of middle- and back-office processes, covering brokerage, settlement, and custody, while providing real-time data and daily product releases.

This consolidation is intended to support Plum’s continued growth as it manages more than £10 billion set aside by millions of users. For Upvest, the migration serves as a major milestone in the UK, demonstrating that its modular architecture can support consolidated investment models at a significant scale. The transition allows Plum to maintain a consistent investment experience across all its active markets using a single underlying partner.

"Having seen the positive impact of our collaboration in EU markets, it was a natural step for Plum to partner with Upvest for investment services to our UK customers as well. We want to help our users build wealth over the long-term, and investment services are central to this ambition. We look forward to working with Upvest to make investing more accessible,"

Ed Simmons, VP Operations at Plum.

The companies involved

Plum is a smart money application focused on helping users save and invest through automated tools. Founded by Victor Trokoudes, who serves as CEO, the company has positioned itself as a central hub for personal finance management in Europe. Plum Fintech has grown rapidly by integrating savings, investments, and budgeting tools into a single interface, catering to a user base that has collectively set aside billions of pounds.

Upvest is a Berlin-based investment infrastructure provider that offers a plug-and-play API for fintechs and financial institutions. Founded by Martin Kassing, who serves as CEO, alongside Dr Til Rochow and Tobias Auferoth, the company provides the technical and regulatory building blocks for investment products, including brokerage, settlement, and custody. Upvest has established itself as a leading European infrastructure player, enabling firms to launch and scale investment offerings without building the underlying financial architecture from scratch. Symmie Swil serves as the General Manager for the UK, overseeing the firm's expansion and operations in the British market.

What FF News has reported before

FF News has previously covered significant developments in the European wealth management and digital banking sectors. This includes reports on how Mintos Disrupts European Wealth Management with Zero-Fee ETF Investing from €1, highlighting the trend toward low-barrier entry points for retail investors. Additionally, our coverage of the digital banking space has followed the growth of major players, such as when bunq Expands Italian Footprint with Local IBAN Launch for Digital Nomads and reported that bunq Surpasses €100m Traded in First Year of Offering Crypto. We have also explored broader consumer trends in the region, such as in the report Brits Seek Open Seas and Skies for More Than Weather.

What this means

This move highlights a growing intolerance among scale-up fintechs for the "spaghetti code" of multi-vendor legacy stacks. By consolidating onto a single API provider for both the UK and EU, Plum is betting that operational efficiency outweighs the perceived safety of vendor diversification. This puts significant pressure on traditional custodians and regional brokerage firms that cannot offer pan-European coverage or modern API integration. The industry is moving toward a "single pane of glass" for investment infrastructure, where the ability to handle fractional shares and automated workflows across multiple jurisdictions is no longer a luxury, but a baseline requirement for survival in the retail wealth space.