BlackRock et al. in €25m series-C for Scalable Capital

The fresh capital will be used to expand the company's software engineering team. Scalable Capital also plans to offer new white-label products for banks, insurers and asset managers.

It now employs more than 100 people, up from 32 in 2016 and 50 in 2017.

Previous funding
HV led a €4m funding round for the company in 2015. Monk's Hill Ventures and German Startups Group also participated, along with Rocket Internet's former global managing director Mato Peric through his vehicle MPGI.

The firm led a €7m funding round in 2016 with participation from its existing investors and new investor Tengelmann.

BlackRock led the company's €30m series-B funding round in 2017. Tengelmann, MPGI and HV also participated. BlackRock was said to secure a significant minority in the deal.

Company
Founded in 2014 and headquartered in Munich and London, the company offers asset management services over a digital platform, as well as phone consultations and one-on-one consultations for retail investors with savings of more than €100,000. It has more than €1.5bn in assets under management.

People
Scalable Capital – Erik Podzuweit (co-founder, CEO).

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