For Scalable Capital, opening the Vienna bank branch is another step in expanding its European banking business. Founded in Munich in 2014 by Erik Podzuweit and Austrian Florian Prucker, the company has already been active in Austria for more than ten years. With its own branch, the neobroker is now removing a key hurdle for Austrian investors: the previously required manual tax filing for certain capital gains.
As a so-called “tax-simple” provider, Scalable Capital will automatically calculate the Austrian capital gains tax (KESt), withhold it, and pay it directly to the responsible tax office in the future. Automatic offsetting of losses is also part of the offering.
New customers will receive an Austrian IBAN immediately upon opening an account. Existing customers will soon have the option to switch to the Austrian bank branch. A local team in Vienna and an Austrian telephone number for customer service complement the market expansion.
Scalable Capital offers fixed-term deposit interest of up to 3.25 percent
With the new bank branch, Scalable Capital is also expanding its interest rate offering for Austrian customers. The company pays a variable interest rate of 2.60 percent per year on instantly accessible balances. According to the company, the interest rate applies to both new and existing customers with no upper limit on the balance. Interest is credited on a monthly basis.
According to the company, citing data from the Oesterreichische Nationalbank, more than 300 billion euros in private financial assets in Austria are held in bank deposits, which often yield only low interest rates. Scalable Capital’s offering is therefore likely to be more than attractive to Austrian customers.
In addition to interest rate products, the investment offering includes more than 9,400 stocks, 3,400 ETFs, cryptocurrencies via exchange-traded products (ETPs), around 1.8 million derivatives, as well as bonds, private equity investments via ELTIFs, and digital wealth management. Savings plans are available starting at just one euro.
Austrian IBAN and automatic capital yields tax deduction as a competitive advantage
Tax integration is a key component of the Austrian expansion. While investors using foreign brokers may have to handle their own tax obligations, Scalable Capital now takes care of calculating and paying capital gains tax (KESt) as well as automatic loss offsetting.
This puts the Munich-based fintech in stronger competition with established Austrian banks and other tax-simple securities service providers.
In addition, Scalable Capital advertises statutory deposit insurance of up to five times 100,000 euros by distributing balances across up to five banks. The actual protection depends on the respective custodial structure and applicable statutory requirements.
ETF Boom in Austria Fuels Demand for Digital Brokers
The expansion comes against the backdrop of growing demand for exchange-traded funds. According to a European ETF study by BlackRock cited by Scalable Capital, Austria ranks second in Europe in terms of the share of ETF investors. Since 2022, the number of ETF investors in the country has reportedly doubled.
Florian Müllner, Head of Scalable Capital’s Austrian banking branch:
“In Austria, we are seeing massive and steadily growing demand for diversified, long-term wealth accumulation solutions. With the opening of our bank branch and the introduction of automated withholding tax, we are positioning ourselves at the forefront of this transformation.”
For the Munich startup ecosystem, the move highlights the increasing internationalization of established fintechs. Scalable Capital is not only expanding the distribution of its investment products, but is also building out its local banking infrastructure.
AI Investing and Future Depot: Scalable Capital Plans Further Offerings
Parallel to its Austrian expansion, Scalable Capital continues to develop its investment platform. According to the company, at the end of August 2026 it opened its platform to connections with AI assistants such as ChatGPT, Claude, and Grok.
Via the “Agentic Investing” feature, customers can activate the corresponding connections in their account settings. In addition, the “Insights” feature offers the option to ask questions about markets, news, investment strategies, and the platform directly within the broker.
The company also relies on its own infrastructure for exchange trading. Together with the Hannover Stock Exchange, Scalable Capital operates the European Investor Exchange. All stocks in Austria’s leading index, the ATX, are already tradable there.
Another potential business area is the planned Austrian “Zukunftsdepot” (future depot) for children. Scalable Capital welcomes the Austrian federal government’s initiative and has announced plans to offer a corresponding product as soon as the legal framework is established. A specific launch date has not yet been set.
