Scalable Capital has completed another successful financing round: with the newly raised €50 million, the total financing volume since the startup's founding has reached €116 million. Blackrock, HV Holtzbrinck Ventures, and Tengelmann Ventures, among others, participated in the Series D round.
"In times of COVID-19, this financing round is a strong signal. It shows that our focused, digital business model is convincing investors,"
says Erik Podzuweit, co-founder and managing director of Scalable Capital. He continues:
“We recently launched our Scalable 'Prime Broker' with trading flat rate "We've had a very successful start. It's interesting to see that our broker's clients are, on average, 10 years younger than those in wealth management. We will use the fresh capital to expand our position as the market leader in digital wealth management and reach new customer groups with the broker."
Grow your team and drive expansion
His co-founder Florian Prucker comments on the company’s future plans as follows:
"We founded Scalable Capital to make investing easier and better through technology. Not only has our end-customer business grown significantly in recent years, but Scalable Capital's technology is also being valued by an increasing number of B2B partners. Our partnership with Barclays has been live since July. With this financing round, we also want to expand our team of 130 employees to drive our expansion and the further development of our platform."
Robo-advisor and trading flat rate
Founded in 2014, Scalable Capital set itself the goal of democratizing wealth management and making investing easier and more affordable through technology. Today, clients can invest their money through the robo-advisor and actively trade with the broker.
The broker, which launched in June, offers a Trading flat rate (“Prime Broker”), which allows investors to trade unlimited stocks, funds, and ETFs or invest in ETFs for €2.99 per month. Scalable Capital also provides access to interest-bearing overnight and fixed-term deposits.
In addition to the services for private investors, Scalable Capital on the B2B business. Since the beginning of the year, the company has entered into new partnerships and consolidated its position as Europe's leading provider of B2B platforms for digital wealth management solutions. Partners include Barclays, ING Germany and Targobank.
