The Hague-based UpToMore, a fintech company, announced the launch of an investment app today that bypasses banks and brokers.
Additionally, the startup has raised €3M for further growth and plans to launch in Europe by the end of this year.
Fund utilisation
The Dutch startup will use the funds to strengthen the team and further develop the digital infrastructure. The app’s European rollout is scheduled for the end of 2025.
With its UCITS license, which is granted to only a select few companies in the Netherlands, UpToMore can operate freely and without barriers.
At €0.99 per month and 0.1 per cent per year on your investment, UpToMore is among the (very) cheapest providers in the Netherlands.
UpToMore: Born out of frustration
UpToMore was founded by former bankers Karl de Bolster and Michael van Balen out of frustration with how the financial sector makes investing complex and exclusive for the average Dutch person.
De Bolster and Van Balen have a clear ambition: to become the accessible European alternative to banks and asset managers within five years.
“Investing has been made unnecessarily complicated and expensive by banks and other asset managers,” says de Bolster. “It’s a shame, because it’s actually a smart supplement to saving, especially now that savings interest rates are lagging behind inflation. We believe that investing should be accessible to everyone, even if you know nothing about it or simply can’t or don’t want to invest the time.”
According to de Bolster, the app is designed for the 95% of people who want to invest but lack the time, inclination, or knowledge to actively pursue it.
“Research shows time and again that passive investing outperforms active investing in the long run,” says de Bolster. “With UpToMore, we’re making that strategy accessible to everyone who’s currently stuck with just a savings account.”
The startup runs its own fund, which means there’s no need for banks or brokers, and no investment account is required.
This direct approach allows users to invest easily and keeps costs low, making UpToMore one of the cheapest investment apps in the Netherlands.
For example, someone investing €150 a month for 10 years will see big differences in costs compared to other providers.
The app has only one function — depositing money. This money is then automatically invested according to a proven strategy: diversified through ETFs that track the global economy.
“We deliberately built the most boring investment app in the Netherlands,” says co-founder Michael van Balen. “No choices, no risks, and no hassle. With a fixed fee and a simple app that helps you build wealth through the proven principle of ‘passive investing.'”
