Digital wealth management platform and broker Scalable Capital has reportedly doubled customer assets during the last 12 months to hit a high water mark of €10 billion in assets under management.
The firm, which moved into cryptocurrency trading in December 2021, now claims over 600,000 customers on its platform.
The crypto-asset offering came around 6 months after Scalable Capital secured over €150 million via a Series E investment round that was led by Chinese tech giant Tencent.
Former Goldman banker Erik Podzuweit, co-founder and co-CEO of Scalable Capital said:
“In just a few years, our assets went from zero to ten billion euro. We’re delighted about this milestone, especially in view of the current challenging market environment. It shows that investors remain focused on their long-term wealth accumulation. This achievement further motivates us to enhance our offering and expand our investment platform across Europe.”
Currently available to investors in Germany, Austria, France, Italy, Spain, and the UK, the firm has lowered its original minimum investment amount of €10,000 to only 20 Euros per month through a savings plan. One-off investments without a savings plan are also available from as low as €1,000.
The company added that the updated pricing has led to a large increase in younger millennial investors who may be attracted to the opportunities provided by investing in Exchange Traded Funds (ETFs) and convenient access to virtual currency trading.
Podzuweit added:
“We make trading crypto as easy as trading shares or ETFs. Crypto currencies are well established as an asset class in a balanced portfolio. With ‘Scalable Crypto’, we are providing an affordable and intuitive offering to help even more people to enter the crypto world.”
