Erik Podzuweit / Scalable Capital
Scalable Capital raises €60m Series E Extension from Balderton Capital
Maintaining its valuation of $1.4bn from 2021
Neobroker Scalable Capital has extended its €150m Series E from June 2021 with an additional €60m raise.
The fresh funding was led by European VC Balderton Capital along with participation from HV Capital, and will be used to further grow Scalable Capital’s offering.
By extending the round Scalable Capital has maintained its valuation of $1.4bn that was achieved in 2021 on the back of a round led by Chinese tech giant Tencent.
“The funding is a testament to the strength investors see in Scalable Capital’s business,” Erik Podzuweit, co-founder and co-CEO of Scalable Capital said.
“The scale-up potential of a holistic pan-European investment platform that empowers everyone to become an investor is huge. With the fresh money, we will focus on further developing our product and striving for sustainable growth.”
Founded in 2014 as a digital wealth manager, Scalable is now active in Germany, Austria, France, Italy, the Netherlands and Spain where it operates as a full service brokerage and has €16bn on its platform.
The Anglo-German company says it has over 600,000 clients on its platform, with ETFs the standout category for investor assets in its brokerage business and with two-thirds of the clients investing in ETFs.