Digital wealth management platform and online broker Scalable Capital recently announced the successful completion of a €60 million equity financing round. This funding, an extension of the firm’s €150 million Series E funding round in 2021, led by Chinese tech conglomerate Tencent, marks a significant milestone for Scalable Capital in its mission to provide innovative investment solutions to its clients.
Funding details
Balderton Capital, a leading venture capital firm, led the latest funding round for Scalable Capital. The round also saw participation from HV Capital and existing investors, highlighting the continued confidence in the company’s growth trajectory. The injection of funds will fuel Scalable Capital’s expansion plans and further develop its industry-leading digital wealth management platform.
Range of services
Scalable Capital’s flagship offering, Scalable Broker, empowers investors to trade a range of financial instruments. Clients gain access to a vast selection of investment products, including 8,000 stocks, 2,500 ETFs, 3,500 funds, and other exchange-traded products. Notably, the platform also embraces the growing popularity of cryptocurrencies, enabling investors to include these digital assets in their portfolios.
Additional benefits for investors
To further enhance the value proposition for its clients, Scalable Capital has introduced several additional benefits. Since the beginning of the year, the firm has offered an attractive four percent interest on uninvested cash. This unique feature benefits up to 1.2 million investors, allowing them to earn returns even on idle funds. Moreover, Scalable Capital has recently added credit options, providing access to secured loans for investors seeking tailored financing solutions.
Expansion and Presence
Scalable Capital has diligently expanded its footprint across Europe over the past two years. The company’s commitment to its pan-European strategy has seen successful launches in Austria, France, Italy, Spain, and the Netherlands. This expansion has significantly broadened Scalable Capital’s market reach, allowing a greater number of investors to benefit from its innovative wealth management platform.
Statement from Co-Founder
Erik Podzuweit, co-founder and co-CEO of Scalable Capital, expressed his gratitude towards the investors and their confidence in the company’s vision. He said, “The funding is a testament to the strength investors see in Scalable Capital’s business.” Podzuweit also highlighted the immense scale-up potential of a holistic pan-European investment platform that empowers everyone to become an investor. The company’s focus remains on developing its product and achieving sustainable growth.
Future plans
With the fresh injection of funds, Scalable Capital is well-positioned to accelerate its product development efforts. The company aims to further refine its platform, incorporating cutting-edge technology and user-friendly features to enhance the investor experience. Additionally, Scalable Capital intends to expand its market presence and captivate a wider audience, providing access to its comprehensive suite of investment tools and services.
Scalable Capital’s recent €60 million equity financing round, led by Balderton Capital and supported by HV Capital and existing investors, underscores confidence in the company’s vision and its ability to revolutionize the wealth management industry. Through its Scalable Broker platform, the company offers an extensive range of investment options, including stocks, ETFs, funds, and cryptocurrencies. With its focus on product development and sustainable growth, Scalable Capital is poised to continue expanding its market presence, bringing innovative investment solutions to millions of investors across Europe and beyond.