Digital wealth management platform and online broker Scalable Capital has successfully completed a €60 million equity financing round.
The funding was led by Balderton Capital, with participation from HV Capital and existing investors. This round is an extension of the firm’s €150 million Series E financing in 2021, which was led by Chinese tech giant Tencent.
Scalable Broker clients can access a wide range of investment options, including 8,000 stocks, 2,500 ETFs, 3,500 funds, and various exchange-traded products and cryptocurrencies to enhance their portfolios. Since the start of the year, the firm has been offering four percent interest on uninvested cash for up to 1.2 million investors and has recently introduced credit access for secured loans.
In the last two years, Scalable Capital has expanded its operations to Austria, France, Italy, Spain, and the Netherlands.
Erik Podzuweit, co-founder and co-CEO of Scalable Capital, commented: “This funding reflects the confidence investors have in our business. The potential for growth as a comprehensive pan-European investment platform that enables everyone to become an investor is significant. With this new capital, we will focus on further product development and pursuing sustainable growth.”