Scalable Capital

Scalable Capital operates a B2B & B2C digital wealth management platform with among the most assets under management (AUM) in Europe. The company’s B2C segment includes neobroking and robo advisory services to customers, primarily targeting high-earning individuals with a minimum investment amount of GBP 10,000 (USD 14,000). As of 2019, the company reported that more than 30% of its assets originate from client portfolios worth more than EUR 100,000 (USD 120,000). The B2B segment focuses on partnering with banks to develop their own robo advisory services. As of June 2021, the company has partnered with Barclays, ING, and Raiffeisen Bank International, amongst others.

In November 2021, the company acquired justETF, an online platform that provides tools that enable retail investors to manage their finances and invest in exchange-traded funds (ETFs), for an undisclosed amount. The acquisition was expected to complement Scalable Capital’s product offering, enabling it to offer a wider suite of products to its customers in the form of more information resources.

As of June 2021, the company’s customer base stood at 250,000 across Austria, Germany and the UK. The company claims threefold growth in customers since July 2020, with AUM growing 2.5x to reach USD 5 billion during the same period.

In January 2021, Scalable Capital announced the closure of its B2C service segment in the UK. The company cited the high cost of customer acquisition, choosing only to continue its B2B partnership with Barclays. The company will focus on expanding its German operations instead.

In December 2021, Scalable Capital launched “Scalable Crypto,” a digital platform to facilitate the trading of cryptocurrencies via Xetra and gettex. In addition, it provides real-time price movements and detailed information relating to specific crypto coins. The platform allows existing customers to access and maintain crypto holdings as exchange-traded products via CoinShares.

The company raised EUR 150 million (USD 180 million) in Series E in June 2021, at a valuation of USD 1.4 billion, led by Tencent. The company expects to use the funding to expand its brokerage and asset management business, and expand its presence in other European markets such as France, Italy, and Spain.