diff --git a/tools/mpremote/mpremote/__init__.py b/tools/mpremote/mpremote/__init__.py
index 493f7415d..6a9beea82 100644
--- a/tools/mpremote/mpremote/__init__.py
+++ b/tools/mpremote/mpremote/__init__.py
@@ -1 +1 @@
-__version__ = "0.3.0"
+__version__ = "0.4.0"
diff --git a/tools/mpremote/setup.cfg b/tools/mpremote/setup.cfg
index 16880d77f..7fae3cbcb 100644
--- a/tools/mpremote/setup.cfg
+++ b/tools/mpremote/setup.cfg
@@ -1,6 +1,6 @@
 [metadata]
 name = mpremote
-version = 0.3.0
+version = 0.4.0
 author = Damien George
 author_email = damien@micropython.org
 description = Tool for interacting remotely with MicroPython