Digital wealth manager Scalable Capital has received further growth capital of €25m in a Series C funding round.
The money comes from the existing shareholders BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures. With this funding round, total funding increases to €66m.
Scalable Capital has seen significant growth since its market launch in 2016. Today, the digital wealth manager employs more than 100 people in Munich and London. The latest funding will be primarily used to expand the software engineering team in order to accelerate business with retail clients and to offer new white-label solutions for banks, insurers and asset managers. With more than €1.5bn in assets under management and more than 50,000 client portfolios, Scalable Capital is the market leader for digital wealth management in Continental Europe.