In a new round of financing, the Fintech-Startup Scalable Capital secures an investment totaling 25 million euros.
The shareholders Blackrock, HV Holtzbrinck Ventures and Tengelmann are investing fresh capital in the Pursue and thus increase the total financing to more than 66 million euros. Patrick Olson, Chief Product Officer at Black Rock comments on the new investment:
"Since we acquired a minority stake in Scalable Capital in 2017, the company has grown into one of Europe's leading providers of digital wealth management solutions. We look forward to continuing to support the team on its expansion path. We are seeing continued strong demand from our clients for technology-based investment solutions. Scalable Capital has proven that they meet these high expectations."
The fintech startup Scalable Capital offers online asset management with algorithms. The company invests its clients' money in passively managed index funds, known as ETFs. Clients can decide for themselves how much risk they want to take, and an algorithm then makes the investment decisions.
Ing Deutschland, Siemens Private Finance, Openbank, Targobank and Oskar are already working with the digital asset management platform.
Fintech startup Scalable Capital: Expansion of the development department
The digital asset manager says it intends to use the investment primarily to expand its development department. This will not only boost its business with private clients, but also include the development of new white-label solutions for banks and insurance companies.
Erik Podzuweit, Co-Founder and Managing Director of Scalable Capital on this:
“The investment recognizes our previous achievements and will accelerate our growth”
He further says:
"We want to further expand our leading market position. With the money from the current financing round, we will invest in our team and drive our growth across all customer segments."
