Scalable Capital secures €150 million in Series E round led by Tencent

By Megha Bhattacharya

Scalable Capital, a neo-broker and a digital wealth manager, has raised €150 million in a Series E funding round led by Chinese technology company Tencent. The funding will be used to accelerate Scalable Capital’s European growth and to continue building an integrated digital wealth management and brokerage experience.

“Tencent complements our existing long-term partners who already represent an international investor base. Our recent funding is a major step forward on our way to becoming the leading retail investment platform in Europe. The strong acceleration of our growth further validates our mission to empower investors,” says Erik Podzuweit, co-CEO and co-founder of Scalable Capital. “Anyone thinking of investing money should think of Scalable Capital. Whether you want to invest yourself via our broker or want our wealth management solutions to do it for you.”

“We see huge demand to invest money in the capital markets instead of leaving it in bank accounts. This comes against a backdrop of record-low interest rates, growing inflation and a widening pension gap”, says Florian Prucker, co-CEO and co-founder of Scalable Capital. “Our clients can access fully managed globally diversified ETF portfolios and – in the same app – self directed trading in shares, ETFs, crypto currencies and funds. We also provide a market-leading offering of ETF, stocks and crypto monthly savings plans. We are planning to launch derivatives trading next. We will continue on our mission to make everyone an investor”.

Founded in 2014, Scalable Capital aims to simplify wealth management and make investments cheaper through technology. The company allows customers to invest their money through the robo advisor and trade actively with the broker. It offers a trading flat rate, where retail investors can trade shares, funds, and ETFs or make savings plans on ETFs for €2.99 per month with no additional fees. It also provides access to overnight and fixed-term deposit offers.