Scalable Capital raises a total of seven million euros from new and existing investors in a Series A financing round. Further proof that FinTech startups are becoming increasingly attractive to investors.
The investment volume in young financial companies has more than doubled within a year: While only 66 million euros were raised in the first quarter of 2015, according to the “Fintech Money Map” by Barkow-Consulting, in the first quarter of this year it was already 134 million euros.
In the case of Scalable Capital, in addition to existing investors Holtzbrinck Ventures, the MPGI fund, Monk's Hill Ventures, Tim Marbach (founder of kaufDA), the German Startups Group and Cortal Consors founder Rainer Mauch, Tengelmann Ventures and Leonteq founder Michael Hartweg are also participating in the digital asset manager founded in 2014.
The fintech startup's early-stage funding now totals eleven million euros. Erik Podzuweit, Co-CEO and co-founder of Scalable Capital, reveals how the Munich-based fintech startup will use the funds raised:
“With the fresh capital we will further expand German and British businessWe also want to expand into new markets and leading automated investment manager in Europe become".
Christian Winter, CEO of Tengelmann Ventures, is convinced of the success of the investment:
"In our opinion, Scalable Capital has the potential to become the leading digital asset manager in Europe. In addition to an intelligent and technology-driven form of investment management, they offer high transparency, fair conditions and convenient service. they hit the nerve of the timesThe company has a great market launch We are delighted to be able to support this team from now on."
Rainer Maerkle, partner at existing investor Holtzbrinck Ventures, says:
„Robo-Advice is the most exciting FinTech topic and will sustainably change the way we invest. In our opinion, Scalable Capital has the best offering on the market. The collaboration with the team since the seed round has completely convinced us, and we want to actively support their continued growth with our increased commitment."
Risk management through technology
The digital asset management service is regulated by BaFin and the FCA and claims to offer private investors access to professional asset management that was previously only available to institutional or very wealthy investors. A technical risk management system manages the capital invested by clients.
"Our technology already passed its first litmus test at the beginning of the year. Despite the market turbulence, a large portion of our portfolios remained positive. This strengthened our clients' confidence in our risk management technology and gave our business another massive boost. Many of our clients subsequently increased their investment amounts and recommended us to friends and acquaintances,"
says Florian Prucker, co-founder of Scalable Capital.
Apparently a recipe for success: The company already employs 32 people.
