Digital wealth management platform and online broker Scalable Capital has sealed a €155 million equity financing round.
The new financing represents the company’s largest funding round to date and is led by Sofina and Noteus Partners. Existing investors Balderton Capital, Tencent, and HV Capital also participated.
Clients of Scalable Capital can trade 8,000 stocks, 2,500 ETFs, and 3,500 funds and other exchange traded products, private equity investments and cryptocurrencies and earn interest on their cash acounts. Over €30 billion is held on the platform by more than one million customers.
Florian Prucker, founder and co-CEO of Scalable Capital, says: “Low-cost, broadly diversified ETFs, free access to financial knowledge, stock exchanges tailored for retail investors, and technology driven investment platforms like Scalable Capital have fundamentally improved access to capital markets for millions of retail investors. To accelerate this development, we will continue to invest in our fully verticalized platform with the additional capital.”