Scalable Capital is valued in excess of $460m following a round that lifted the digital wealth manager's total funding to about $130m.
Scalable Capital, a Germany-based digital investment manager co-founded by Ludwig Maximilian University of Munich (LMU Munich), received €50m ($58m) yesterday in a series D round, EU-Startups reported.
The round included all existing backers – backed by Tengelmann Ventures, a corporate venturing vehicle for retailer Tengelmann, as well as HV Holtzbrinck Ventures, Blackrock, Monk’s Hill Ventures, German Startups Group, MPGI, Reiner Mauch, Rahul Mehta and Steffen Pauls – and an unnamed new investor. It was valued at $463m post-money, chief executive Erik Podzuweit told TechCrunch.
Scalable Capital allows investors to build tailored investment portfolios based on their inclination to risk, with the ability to trade either through a robo adviser or directly through the broker. It has a total of 80,000 customers in Germany, Austria and the UK, and more than $2bn under management.
The company was co-founded by Stefan Mittnik, professor of financial econometrics and director of the…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
