Single Blog Title

This is a single blog caption

Scalable Capital said to reach $460m valuation after new investment

Digital wealth management company Scalable Capital has reportedly raised $58m in a funding round, which values the WealthTech at $460m.

The Series D round was supported by a mixture of new and existing investors, according to a report from TechCrunch. Investors included BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures.

Scalable is a European robo-advisor platform, which claims to manage more than $2bn. Users can build a personalised, globally diverse and fully managed portfolio comprised of equities, government bonds, corporate bonds, commodities, real estate and cash.

Scalable’s former equity injection was a $28m round back in 2019 from investors including Holtzbrinck Ventures and Tengelmann Ventures. This was raised to help it grow at a quicker pace.

Since it was founded in 2014, the WealthTech platform has raised a total of $133m in funding.

This investment comes shortly after Scalable Capital revealed a new partnership with Barclays. The bank is leveraging Scalable Capital’s technology to build the Barclays Plan & Invest.

The new service will create a personalised investment plan tailored to a customer’s specific goals and will give customers access to active and passive funds via a managed portfolio.

Last year, Scalable Capital expanded its product range to include fixed-term deposits through a collaboration with Raisin. The customers can invest into fixed-term deposits through select European banks.

Copyright © 2020 FinTech Global

Did you visit the Virtual Exhibitor Hall?

Our sponsors are giving free access to their platforms and prize giveaways so make sure you check them out!

Meet the exhibitors