By Daniel Lanyon on Tuesday 2 January 2018
The firm has recorded a year of strong growth led by partnerships with large firms in Germany.
Scalable Capital, the online wealth manager, has seen its investor base swell to more than 20,000 clients.
The growth of users represents a 25 per cent jump since it last revealed its numbers just two months ago suggesting it’s still seeing strong growth for its automated online investment portfolios.
Back in November it said it had €500m of assets under management representing 15,000 client accounts suggesting the firm is chasing down Nutmeg, the UK robo-advice market leader as the largest online wealth manager in the UK as well as Europe.
The past 12 months have been one of milestones for Scalable Capital which launched an exclusive partnership with Siemens as well as ING-Diba – the German banking arm of ING – as well receiving €30m of new equity funding led by asset management giant BlackRock.
It launched its investment management services less than two years ago – 22 months – in Germany and 16 months in the UK and more recently in Austria. In January it says its website will go live in Switzerland.
The partnership with ING-DiBa, has particularly accelerated growth. In the first two months of the partnership, almost 7,000 ING-DiBa customers have moved more than €150m to Scalable’s portfolios.