Munich-based fintech Scalable Capital has broken the billion-euro mark in assets under management. A partnership with an established bank was crucial to its success.
In February 2016, the Munich Success story Now, 28 months later, Scalable Capital has broken the one billion euro barrier in assets under management.
A look at the development of the capital invested by the Fintech shows a rapid acceleration since last autumn, when the Munich-based Sales partnership with the direct bank ING-DiBa announced. Since then, customers of Germany's third-largest bank by customer number have been able to invest their money directly with Scalable Capital's robo-advisor. Over 20,000 of the direct bank's customers are already using the service and have over €500 million in assets managed by Scalable Capital. Around half of the assets held by the fintech company thus come from ING-DiBa customers. In total, the company has over 30,000 customers who invest an average of €32,000.
Ilse Aigner congratulates Scalable Capital
Already in Interview with Munich Startup in spring Co-founder and Managing Director Erik Podzuweit expressed his satisfaction with the Munich location and praised the support from politicians in Bavaria. The former Minister of Economic Affairs and current Deputy Prime Minister of Bavaria Ilse Aigner now also comments on the company’s success and says:
"I'm delighted that Scalable Capital has grown successfully with our support! Scalable Capital has convinced top investors—much to the delight of Invest in Bavaria. And it has acquired customers faster than any other competitor worldwide. This is a prime example of Bavarian startup support. It deserves my full recognition."
“But we are still at the very beginning”
According to the company, no other independent robo-advisor worldwide has been able to reach the billion mark as quickly as the Munich-based company. Erik Podzuweit says:
"We didn't expect such a steep start-up curve when we launched just over two years ago. Measured in US dollars, we reached the first billion even faster, in just under two years, faster than the leading US robo-advisors that entered the market a few years before us and now each manage over ten billion US dollars."
“The investment volume achieved shows above all that there is real demand for digital asset management,”
says Podzuweit.
“But we are still at the very beginning: There are millions of people in Europe who want a technology-supported and cost-effective form of investment.”
