• 50 million Euros growth capital for the expansion of its wealth management and brokerage platform
• Total funding increases to more than 115 million Euros
• Co-founder and co-CEO Erik Podzuweit: "In times of Covid-19, our financing round is a strong signal; it shows that our focused, digital business model is convincing investors”

Munich/London, July 22, 2020. ​Europe's leading digital wealth manager Scalable Capital has raised an additional 50 million Euros in a Series D financing round. The money will be used to further accelerate growth in wealth management, brokerage and its B2B business. One new and all existing investors participated in the funding round; accordingly BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures invested once again. Since Scalable Capital was founded, the total funding has increased to 116 million Euros.

"In times of Covid-19, our funding round is a powerful signal; it shows that our focused, digital business model is convincing investors”, says Erik Podzuweit, co-founder and co-CEO of Scalable Capital. “Just recently, we launched our Scalable "Prime Broker" with trading flat rate with great success. It is interesting to see that the clients of our broker are on average 10 years younger than of our wealth management service. We will use the additional capital to expand our position as the market leader in digital wealth management and to reach new customer segments with the broker".

"We established Scalable Capital to make investing easier and better through technology," says Florian Prucker, co-founder and co-CEO of Scalable Capital. "Not only has our B2C business grown strongly over the last few years, but Scalable Capital's technology is also used by more and more B2B partners; most recently we launched our partnership with Barclays. With this funding round, we also want to expand our team of currently 130 employees in order to drive our expansion and the further development of our platform.”

For private customers, a home for their investments. For B2B customers the technology platform

When founded in 2014, Scalable Capital's goal was to democratise wealth management and to make investing easier and cheaper through technology. Today customers can invest their money through the robo advisor and trade actively with the broker. The broker, which was launched in June, is the first one to offer a true trading flat rate ("Prime Broker"), where retail investors can trade shares, funds and ETFs or make savings plans on ETFs for €2.99 per month with no additional fees. Furthermore, Scalable Capital provides access to attractive overnight and fixed-term deposit offers.

In addition to the services for retail investors, Scalable Capital focuses on its B2B business. Since the beginning of the year, the company has established three new partnerships and strengthened its position as Europe's leading provider of B2B platforms for digital wealth management solutions. Today, partners include:

• Barclays, third largest bank in the UK by total assets and 24 million customers
• Gerd Kommer Capital, the robo advisor of the renowned honorary advisor and best-selling author Gerd Kommer
• Raiffeisen Banking Group Austria, Austria's largest banking group with 2.8 million customers
• Raisin, Europe's leading platform for cross-border savings, which has already brokered 16 billion Euros from individual savers in over 30 countries to more than 80 partner banks across Europe
• ING Deutschland, Germany's third largest bank with more than 9 million customers
• Siemens Private Finance, digital wealth management for the employees of one of the largest employers in Germany
• Openbank, the Santander Group's digital bank in Spain, Europe's second largest bank by number of customers
• Targobank, part of the French Crédit Mutuel banking group, one of the leading retail banks in Germany with more than 4 million customers
• Oskar, the digital wealth management for families, a subsidiary of finanzen.net, Germany's market leader among financial and stock market portals
• Baader Bank, operates as the custodian bank for the wealth management and Scalable Capital's online broker