Germany-based leading digital investment platform in Europe, Scalable Capital, closed its Series E equity financing at EUR 60 million. The company announced the closure on December 7, 2023. European venture capital firm Balderton Capital led the financing for the company. Meanwhile, HV Capital’s new growth fund as well as existing investors joined in the funding.
As a part of the deal, Balderton Capital General Partner Rana Yared will join Scalable’s board of directors.
Purpose of financing for Scalable Capital
With the latest financing, Scalable Capital seeks to empower everyone to become an investor. It further has plans to pursue growth. Meanwhile, it intends to capitalise on Scalable Capital’s position as a leading provider of easy as well as cost effective investing solutions for retail clients.
What the company’s official has to add
Erik Podzuweit, Co-Founder and co-CEO of Scalable Capital, said, “The funding is a testament to the strength investors see in Scalable Capital’s business. The scale-up potential of a holistic pan-European investment platform that empowers everyone to become an investor is huge. With the fresh money, we will focus on further developing our product and striving for sustainable growth.”
What the investors have to comment
Balderton Capital General Partner Rana Yared further said, “Scalable’s one-stop, digital-first, wealth-building and generating platform brings a suite of top-class financial products to individuals across Europe and is unparalleled in the market. We’ve been impressed by Erik, Florian and the team’s vision and execution to date and are delighted to be supporting them in this next chapter.”
Rainer Märkle, General Partner from HV Capital’s new ‘Fund IX Growth’, which made its first cross-fund investment in Germany., also commented, “HV Capital has been backing Scalable Capital for eight years now. The investment from the ‘HV Capital IX Growth’ fund specifically strengthens Scalable Capital on its path to becoming Europe’s leading digital investment platform and expanding further.”
About the company
Erik Podzuweit, Florian Prucker, Patrick Poschl, and Stefan Mittnik launched the company in 2014. Since its inception, Scalable Capital has provided retail investors with easy as well as affordable access to investing. It started with a digital wealth management service. It later expanded in 2020 as a full-service brokerage offering. Over the past two years, Scalable Capital expanded its brokerage into Austria, France, Italy, Spain as well and the Netherlands. Today, clients can invest in ETFs, stocks, funds, bonds, cryptocurrencies and derivatives, with more than two-thirds of the money invested in ETFs. The regular execution of more than 1.2 million savings plans.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!