Digital wealth manager has seen its client assets double in 12 months despite more recent market turmoil
Scalable Capital has reached €10bn assets under management, more than double the figure one year ago, thanks, in particular, to high demand for exchange-traded funds (ETFs).
One of the first robo-advisers in Europe, Scalable Capital’s investment platform now combines wealth management, brokerage and crypto offerings. It was founded in 2014, reached a unicorn valuation last year thanks to a $180m raise led by Chinese tech giant Tencent and now employs more than 400 people at its offices in Munich, Berlin and London.
Erik Podzuweit (pictured), co-founder and co-CEO of Scalable Capital, said: “In just a few years, our assets went from zero to €10bn. We are delighted about this milestone, especially in view of the current challenging market environment. It shows that investors remain focused on their long-term wealth accumulation.
“This achievement further motivates us to enhance our offering and expand our investment platform across Europe. We want to make Europe a continent of investors – and we are just getting started.”
The Anglo-German company said it now has 600,000 clients on its platform using its wealth platform with ETFs the standout category for investor assets in its brokerage business with two-thirds of the clients investing in ETFs.
The younger the investor, the more popular the ETF is, with almost three-quarters of 18-26-year-olds investing in ETFs versus only 60% of over 65s.
Scalable Capital is active in Germany, Austria, France, Italy, Spain and the UK. As well as having a booming private clients business, it also operates B2B solutions for ING, Barclays in the UK, the robo-adviser Oskar and Santander in Spain.
This story was originally published on AltFi
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