BlackRock et al. invest €30m in Scalable Capital

Existing investors HV Holtzbrinck Ventures and Tengelmann Ventures also took part in the round, which brings Scalable Capital's total funding to date to €41m. BlackRock stated it had secured a "significant minority" stake in Scalable Capital.

In 2016, the German fintech startup raised a €7m series-A from existing backers Holtzbrinck, German Startups Group and other investors. That funding round brought the total capital raised to €11m at the time. Mato Peric, former global managing director and partner at Rocket Internet, invested through his vehicle MPGI, while Monk's Hill Ventures, Tengelmann and business angels also committed to the round.

For BlackRock, the investment in the latest round was motivated by the ability to offer Scalable's technology to its own clients, which will in turn boost Scalable's growth across Europe. However, the company will continue to operate independently.

Company
Founded in 2014 and based in Munich and London, Scalable's technology allocates each investor's portfolio based on a quantitative measure of their risk appetite.

The technology uses forward-looking projections, based on recent market developments, to measure the level of risk in the exchange-traded fund products the client is invested in, and then reallocates their portfolio according to their risk category. The company has 50 employees.

People
BlackRock – Patrick Olson (chief operating officer of EMEA).

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• Topics
• Expansion
• Financials
• UK / Ireland
• DACH
• BlackRock
• Holtzbrinck Ventures
• Germany
• United Kingdom