Scalable Capital secures €50 million in Series D funding

Source: IBS Intelligence 2020-07-23

Scalable Capital, a Germany-based digital wealth manager, has raised an additional €50 million in a Series D financing round today. This takes the total amount raised to €116 million. The round saw the participation of existing investors, including BlackRock, HV Holtzbrinck Ventures, and Tengelmann Ventures. The company aims to utilise the funds to speed up its growth in wealth management, brokerage, and its B2B business.

Erik Podzuweit, co-founder and co-CEO of Scalable Capital, said. “Just recently, we launched our Scalable “Prime Broker” with the trading flat rate with great success. It is interesting to see that the clients of our broker are, on average, 10 years younger than our wealth management service. We will use the additional capital to expand our position as the market leader in digital wealth management and to reach new customer segments with the broker”.

Founded in 2014, Scalable Capital aims to simplify wealth management and make investments cheaper through technology. The company allows customers to invest their money through the robo advisor and trade actively with the broker. It offers a trading flat rate, where retail investors can trade shares, funds, and ETFs or make savings plans on ETFs for €2.99 per month with no additional fees. It also provides access to overnight and fixed-term deposit offers.

“We established Scalable Capital to make investing easier and better through technology,” said Florian Prucker, co-founder and co-CEO of Scalable Capital. “Not only has our B2C business grown strongly over the last few years, but Scalable Capital’s technology is also used by more and more B2B partners; most recently, we launched our partnership with Barclays. With this funding round, we also want to expand our team of currently 130 employees to drive our expansion and the further development of our platform.”

Scalable Capital

Scalable Capital secures €50 million in Series D funding

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