THE CHALLENGE
Multiple entities, fragmented visibility, and manual treasury work
Upvest is on a mission to make investing as easy as spending money. Founded in 2017, the company now employs more than 220 people across Berlin, London, and Tallinn, and is one of the few European fintechs licensed to provide the full spectrum of brokerage and custody services. As the business scaled, the finance team — with Toni Krüger, VP of Accounting and Reporting, closely involved in treasury operations — found itself constrained by outdated processes.
Managing multiple entities and bank accounts meant even preparing a consolidated cash balance was time-consuming. The team faced inconsistent data formats, limited tooling, and a heavy reliance on manual steps. This complexity slowed down reporting, introduced operational risk, and distracted the team from more strategic priorities.
At the same time, Upvest was migrating to NetSuite. To support the company’s growth, Toni needed a treasury solution that would integrate seamlessly with their new ERP, provide clear visibility across accounts, and scale with the company’s ambitions.
"Before Atlar, we didn’t have all our bank accounts in one place," Toni says. "Just preparing a consolidated cash balance was a challenge, and there were lots of manual processes involved."
THE SOLUTION
Centralized treasury management with NetSuite and multi-bank integration
With expansion underway and NetSuite migration on the horizon, Upvest evaluated its options with a clear set of priorities. The finance team looked for a platform that could integrate natively with NetSuite, consolidate balances across banks and entities, offer secure and customizable access rights, and scale to meet future treasury needs.
"What surprised me most about the implementation was the amount of work Atlar actually took over," adds Toni. "That gave us extra time to focus on other critical tasks in the NetSuite migration."
Atlar met these requirements while providing a straightforward, intuitive user experience. Importantly, the team could rely on Atlar to deliver the NetSuite integration in under 90 days — a commitment that proved essential to keeping Upvest’s ERP migration on track.
THE RESULT
Faster processes, real-time visibility, and scalable treasury operations
The impact of Atlar was immediate. With all accounts consolidated in one platform, Upvest gained near real-time visibility over balances and transactions across entities and jurisdictions. This level of insight allowed the finance team to act quickly when issues arose and manage liquidity with far greater confidence.
"Having near real-time access to all bank accounts means we can react immediately if something unexpected happens. That transparency and flexibility are a huge advantage," says Toni.
Automated bank statement processing into NetSuite reduced reconciliation and AP/AR booking times by around 80%, freeing up significant capacity. Manual tasks such as entering bank details were eliminated through templates and streamlined workflows. Operational teams also benefited from custom dashboards and access rights tailored to their needs, ensuring everyone had the information required without compromising security.
By removing manual work and improving visibility, Upvest’s finance team has become a stronger strategic partner to the business. With more time to focus on scaling processes and supporting growth, the team is better positioned to enable Upvest’s mission of making investing simple and accessible.
Want to see how Atlar enables ambitious teams like Upvest to scale with confidence? Get in touch or request a 30-minute demo.
