The extension of the series E funding round for Scalable Capital was led by European venture capital firm Balderton Capital, with help from HV Capital and its new growth fund.
Scalable Capital will use the funding to deliver further growth and to capitalise on its position as a provider of easy and cost effective investing solutions.
“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,” said Erik Podzuweit, co-founder and co-CEO of Scalable Capital.
Balderton Capital general partner, Rana Yared, who will join the company’s board, commented: “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 team’s vision and execution to date and are delighted to be supporting them in this next chapter.”
Rainer Märkle, General Partner at HV Capital, added: “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.”
Since 2014, Scalable Capital has provided retail investors with access, starting with a digital wealth management service. This expanded into a full service brokerage in 2020.
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