European Neobroker Scalable Capital Raises $65 Million at $1.4 Billion Valuation

Table of Contents

A Munich-based startup that aims to make investing in financial markets accessible to a wider range of consumers has secured an additional €60 million ($65 million) in equity funding. The company, Scalable Capital, will use the funds to expand its business in six European countries and explore new markets.

Background

Scalable Capital was founded by Erik Podzuweit and Florian Prucker, who co-CEO role. In 2021, the startup raised $180 million in a round led by Tencent, with BlackRock, HV Capital, and several other investors participating. The latest funding brings the total investment in Scalable Capital to over €200 million.

Key Highlights

Expansion plans: The company will use the funds to expand its presence in six European countries: Germany, Austria, Switzerland, France, Italy, and the UK.
New markets: Scalable Capital aims to explore new markets and continue its mission of making investing accessible to a broader range of consumers.

Market Trends

The fintech industry has seen significant growth in recent years, with many startups focusing on digital investment platforms. However, the market has also faced challenges, such as regulatory hurdles and increased competition.

Scalable Capital’s Approach

Scalable Capital’s approach to investing is centered around providing a user-friendly platform for individuals to manage their investments. The company offers a range of financial products, including stocks, bonds, and ETFs, allowing users to create customized investment portfolios.

Expert Insights

Balderton general partner Rana Yared commented on the latest funding: "Scalable’s one-stop, digital-first, wealth building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market."

Future Outlook

The additional funding will enable Scalable Capital to continue its growth trajectory and expand its reach across Europe. As the fintech industry continues to evolve, the company’s innovative approach to investing may prove to be a key factor in its success.