Today, Scalable Capital, a digital investment platform in Europe, announced the closing of a €60 million equity financing. This brings the compay's funding to €326 million.
Since 2014, Scalable Capital has provided retail investors with easy and affordable access to investing. It started with a digital wealth management service and expanded in 2020 into a full-service brokerage offering.
Over the past two years, Scalable Capital has expanded its brokerage into Austria, France, Italy, Spain, and the Netherlands. Today, clients can invest in ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, with over two-thirds of the money invested in ETFs.
The regular execution of more than 1.2 million savings plans reflects retail investors' long-term and sustainable approach to building wealth.
Since the beginning of the year, clients have received attractive interest rates of up to 4 percent p.a. on uninvested cash. The company recently added “Credit” for access to secured loans in the Scalable Broker.
According to Erik Podzuweit, Co-Founder and Co-CEO of Scalable Capital:
“The funding is a testament to the strength investors see in Scalable Capital’s business.
The scale-up potential of a holistic pan-European investment platform that empowers everyone to become an investor is huge.
With the fresh money, we will focus on further developing our product and striving for sustainable growth.”
This extension of the series E round was led by European venture capital firm Balderton Capital with participation from HV Capital’s new growth fund and existing investors, underscoring their strong support for Scalable Capital’s mission to empower everyone to become an investor.
Balderton Capital General Partner, Rana Yared, who will join the company’s board, commented:
“Scalable's one-stop, digital-first, wealth-building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market.
We've been impressed by Erik, Florian and the team's vision and execution and are delighted to support them in this next chapter.”
The funding will be used to deliver further growth and to capitalise on Scalable Capital’s position as a leading provider of easy and cost-effective investing solutions for retail clients.
Lead image: Scalable Capital. Photo: Uncredited.