Scalable Capital, a digital investment platform operating in Europe, announces a new €60 million equity financing. This is the extension of the Series E round, the transaction was led by the European venture capital firm Balderton Capital with the participation of HV Capital’s new growth fund and other existing investors who have reaffirmed their strong support for Scalable Capital’s mission to democratically enable anyone to become an investor. The funding will be used to ensure further growth by capitalising on Scalable Capital’s position as a leader in easy and cost-effective investment solutions for savers.
Platform to democratize investing
“The funding is a testament to the strength investors see in Scalable Capital’s business. The growth potential of a pan-European holistic investment platform that allows anyone to become an investor is enormous. With the new funds, we will focus on further developing our product and sustainable growth,” Erik Podzuweit, co-founder and co-CEO of Scalable Capital, said in a statement.
Rana Yared, General Partner at Balderton Capital, who will join the firm’s Board of Directors, adds: “Scalable’s digital and single point of access platform for individuals to accumulate and invest their savings offers a suite of first-class financial products to savers across Europe, and is unmatched in terms of the market. We have been impressed with the vision and execution of Erik, Florian and the team to date and are delighted to support them in this next chapter of their growth.”
Along with Balderton, Scalable Capital has also received strong support from HV Capital’s new Fund IX Growth, which already has a stake in the capital. Rainer Märkle, General Partner at HV Capital: “We have been supporting Scalable Capital for eight years now. HV Capital IX Growth’s investment further strengthens Scalable Capital on its path to becoming Europe’s leading digital investment platform and expanding further.”
Since 2014, Scalable Capital has been offering private savers easy and convenient access to investments. The offering started with a digital wealth management service and in 2020 expanded by adding a comprehensive brokerage offering to invest in the financial markets. Over the past two years, Scalable Capital has launched its brokerage service in Austria, France, Italy, Spain, and the Netherlands. Today, customers can invest in ETFs, stocks, funds, cryptocurrencies, and more. Over two-thirds of the savings invested with Scalable are in ETFs. The regular execution of more than 1.2 million savings plans reflects the sustainable and long-term approach that private investors take to accumulating their wealth. Since the beginning of the year, customers have received interest rates on cash of up to 4% per annum.
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