Fintech company Scalable Capital closes their Series C funding round at 25 million EUR. The wealth management company from Munich received the round from BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures. The participants were all existing investors.
Digital Investment Leader in Continental Europe
In a press release, The wealth management company has stated they will use this money to cement their pole position in the European market. With 1.5 billion EUR in assets and 50,000 clients, Scalable Capital boasts the market lead for digital wealth management in Europe. The company also plans to commit the funding to growing their software engineering team. The Series C round brings their total investments to 66 million EUR.
“This investment acknowledges our work to date and will further accelerate our growth,” said Erik Podzuweit, co-founder and CEO of Scalable Capital. “We want to further cement our leading market position. This new funding enables us to go after even more opportunities and to continue to invest heavily in our talent; pushing our ambitions forward across client segments.”
Scalable Capital’s mission is to expand the investment opportunities beyond the audience of the wealthy elite. However, investment remains popular among high-earning professionals. A majority of the fintech’s customers hold degrees in business, IT or engineering, and one third of the portfolios under their management exceed a total of 100,000 EUR.