Scalable Capital, a robo-advisor platform, has reportedly received $28m in a new growth capital round.
The investment was supplied by HV Holtzbrinck Ventures and Tengelmann Ventures, according to a report from FinTech Futures. Decisions to raise $28m came so it could grow a little quicker and have extra funds if needed. Its founder Erik Podzuweit stated the company did not really need the money.
Founded in 2014, Scalable Capital offers investors access to exchange-traded funds (ETFs), creating them a portfolio comprised of equities, government bonds, corporate bonds, commodities, real estate, and cash. Investors can choose a general scheme which lets them invest from as little as ?10,000. Other options include an ISA or pension schemes.
The platform has access to over 8,500 securities around the world and will regularly monitor the risk of investments in a portfolio for the investor. It
Last year, the company surpassed the ?1bn assets under management mark, achieving this within just 28 months of operations.
Scalable was named in the inaugural WealthTech 100 earlier in the year. The list identifies companies that leaders in the wealth and asset management industries needs to know about.
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