Digital wealth management platform and online broker Scalable Capital has doubled its client assets over the past year, reaching €10 billion in assets under management.
The company, which ventured into crypto trading in December, now boasts more than 600,000 clients on its platform. This crypto offering was launched just six months after Scalable Capital secured over €150 million in a Series E funding round led by Chinese tech giant Tencent.
“In just a few years, our assets went from zero to ten billion euros. We’re delighted about this milestone, especially considering the current challenging market environment. It shows that investors remain focused on their long-term wealth accumulation,” stated Erik Podzuweit, co-founder and co-CEO of Scalable Capital. “This achievement further motivates us to enhance our offering and expand our investment platform across Europe.”
Available to investors in Germany, Austria, France, Italy, Spain, and the UK, the firm has recently lowered its minimum investment from €10,000 to just €20 per month with a savings plan. One-off investments are also possible from as little as €1,000.
The new pricing structure has attracted a wave of younger millennial investors interested in the opportunities offered by Exchange Traded Funds and easy access to crypto trading.
“We make trading crypto as easy as trading shares or ETFs,” Podzuweit added. “Cryptocurrencies are now well-established as an asset class in a balanced portfolio. With ‘Scalable Crypto’, we are providing an affordable and intuitive way for more people to enter the crypto world.”