Scalable Capital, a German-based neobroker and digital wealth supervisor, has raised greater than US$180 million (€150 million) in a Sequence E funding spherical led by China’s expertise firm Tencent.
This purely major funding spherical the place current shareholders participated brings the overall capital raised to over US$320 million (€260 million).
The funding can be used to speed up Scalable Capital’s European progress and to proceed constructing an built-in digital wealth administration and brokerage expertise.
Further, the funds may even be used for worldwide enlargement and the corporate’s continued product improvement efforts.
5 years after go-live in February 2016, the corporate has over 1 / 4 of one million shoppers and over $5 billion (€4 billion) of shopper property on its platform.
Along with the headquarters in Munich and an workplace in London, Scalable Capital lately opened a location in Berlin to draw extra expertise, particularly within the fields of engineering, shopper success and advertising.
“Tencent enhances our current long-term companions who already signify a global investor base. Our current funding is a serious step ahead on our solution to turning into the main retail funding platform in Europe. The sturdy acceleration of our progress additional validates our mission to empower buyers.
Anybody considering of investing cash ought to consider Scalable Capital. Whether or not you wish to make investments your self by way of our dealer or need our wealth administration options to do it for you.”
mentioned Erik Podzuweit, co-CEO and co-founder of Scalable Capital.
Featured picture credit score: © Scalable Capital