BlackRock et al. back €50m round for Scalable Capital

Scalable plans to use the fresh capital to grow its wealth management, brokerage and B2B business.

The company launched its Prime Broker trading service in 2020 for retail investors.

Previous funding
HV led a €4m funding round for Scalable in 2015, with participation from Hill Ventures, German Startups Group and MPGI, the investment vehicle of Rocket Internet's former global managing director Mato Peric.

Scalable raised a €7m funding round in 2016 with participation from its existing investors and new investor Tengelmann.

New investor BlackRock led a €30m series-B funding round for the company in 2017, securing a significant minority stake. Tengelmann, MPGI and HV also took part in the round.

BlackRock, HV and Tengelmann invested in a €25m series-C funding round for Scaleable in August 2019.

Company
Munich-headquartered Scalable is a wealth management platform that offers general investment accounts, ISAs and pensions. It is available to customers in Germany, Austria and the UK, and manages assets of approximately €2bn on behalf of private individuals and B2B customers.

According to a statement, its partners include Barclays, savings startup Raisin, Siemens Private Finance and the Austrian banking group Raffeisen. The company was founded in 2014 and employs 129 people, according to LinkedIn.

People
Scalable Capital – Erik Podzuweit, Florian Prucker (co-founders, co-CEOs).

Advisers
Company – Gütt Olk Feldhaus, Adrian von Prittwitz, Thomas Becker, Isabelle Vrancken, Ricarda Theis (legal); Moog, Marc Sälzer (tax).

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• Topics
• Expansion
• DACH
• Financials
• Venture
• Germany
• BlackRock