Scalable Capital, a digital investment firm with operations in Munich and London, has raised €25m in a Series C funding round.

BlackRock, HV Holtzbrinck Ventures as well as Tengelmann Ventures participated in the fundraising. All these investors are existing shareholders of Scalable.

With the new capital, Scalable intends to expand its software engineering team in order to deliver new white-label solutions. The solutions will be targeted at asset managers, banks and insurers.

The latest infusion takes the total funding raised by the firm to date to €66m.

Scalable co-founder and CEO Erik Podzuweit said: “This investment acknowledges our work to date and will further accelerate our growth. We want to further cement our leading market position.

“This new funding enables us to go after even more opportunities and to continue to invest heavily in our talent; pushing our ambitions forward across client segments.”

Currently, Scalable has a staff headcount of more than 100 between Munich and London.

It manages over €1.5bn in assets and over 50,000 client portfolios in continental Europe.

One-third of the company’s total managed assets are said to be in portfolios having a balance of over €100,000.

The company noted that it oversees an average of €35,000 per client and that nearly every second customer has a monthly savings plan averaging €400.