Scalable Capital, a fast growing neo-broker and one of Europe’s largest digital wealth managers, has raised more than $180 million (€150 million) in a Series E funding round led by by China’s leading technology company Tencent.
This purely primary investment round brings the total capital raised to over $320 million (€260 million). Existing shareholders participated as well. The funding will be used to accelerate Scalable Capital’s European growth and to continue building an integrated digital wealth management and brokerage experience. Five years after go-live in February 2016, the company has over a quarter of a million clients and over $S5 billion (€4 billion) of client assets on its platform and is one of the fastest growing European fintechs.
“Tencent complements our existing long-term partners who already represent an international investor base. Our recent funding is a major step forward on our way to becoming the leading retail investment platform in Europe. The strong acceleration of our growth further validates our mission to empower investors,” says Erik Podzuweit, co-CEO and co-founder of Scalable Capital. “Anyone thinking of investing money should think of Scalable Capital. Whether you want to invest yourself via our broker or want our wealth management solutions to do it for you.”
Read more/Source: Private Equity Wire
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