Scalable Capital, a digital investment platform in Europe, announced the closing of a €60 million in equity financing.
The Series E extension was led “by European venture capital firm Balderton Capital with participation from existing investors, including HV Capital – underscoring their strong support for Scalable Capital’s mission to empower everyone to become an investor.”
The funding from the investment round will be “used to deliver further growth and to capitalise on Scalable Capital’s position as a leading provider of easy and cost effective investing solutions for retail clients.”
Rana Yared, General Partner at Balderton, said:
“Scalable’s one-stop, digital-first, wealth building and generating platform brings a suite of top-class financial products to individuals across Europe, and is unparalleled in the market. We’ve been impressed by Erik, Florian and team’s vision and execution to date and are delighted to be supporting them in this next chapter.”
Since 2014, Scalable Capital has “provided retail investors with easy and affordable access to investing. It started with a digital wealth management service and expanded in 2020 into a full service brokerage offering. Over the past two years Scalable Capital expanded its broker into Austria, France, Italy, Spain and the Netherlands.”
Today, clients can invest in ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, “with over two thirds of the money invested in ETFs.”
The regular execution of more than 1.2 million savings plans “reflects the long-term and sustainable approach retail investors take to building wealth.”
Since the beginning of the year, the company has “offered attractive interest rates of up to
4 % p.a. on uninvested cash.” The company recently added “Credit” for access to secured loans in the Scalable Broker.
Erik Podzuweit, Co-Founder and Co-CEO of Scalable Capital, said:
“The funding is a testament to the strength investors see in Scalable Capital’s business. 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.”
As noted by its management, Balderton is Europe’s venture capital investor, focused exclusively on European founded technology companies.
They support companies from Seed to Exit.
They claim to have a track-record of “backing breakthrough companies ranging from MySQL to Betfair, and The Hut Group to Yoox Net-a-Porter. Companies in the Balderton portfolio take advantage of Balderton’s network of globally-connected executives, who have real-world experience of founding and building technology companies from startup to IPO; Balderton’s CEO Collective; and the firm’s platform of legal, talent and marketing services.”