Neobrokers startups that are disrupting the investment industry by providing a platform for a wider range of consumers to partake in the stock market by offering them more incremental investment options and modern and easy mobile-based interfaces to manage their money continue to see a huge amount of interest, and today comes the latest development in that story. Scalable Capital, a Munich/Berlin startup that provides tools to monitor and manage portfolios for those investing in shares, manage trades and exchange traded funds for a flat fee of €2.99 per month, has raised over $180 million (around €150 million) to expand its business. The company confirmed to us that the investment, a Series E being led by China's Tencent, is being done at a $1.4 billion valuation.
Neobrokers — startups that are disrupting the investment industry by providing a platform for a wider range of consumers to partake in the stock market by offering them more incremental investment options and modern and easy mobile-based interfaces to manage their money — continue to see a huge amount of interest, and today comes the […]
Germany-based Scalable Capital, a neo-broker and digital wealth management firm, has reportedly secured over $180 million (appr. €150 million) through a Series E round that was led by Chinese tech giant
Tencent.
Scalable Capital‘s latest investment round included contributions from existing shareholders. The company has secured more than $320 million in capital to date (appr. €260 million).
The proceeds will be channeled towards expanding Scalable Capital’s European operations and also to continue developing an integrated digital wealth management and brokerage experience. The funds raised will also be directed towards the firm’s ongoing global expansion and its product development.
Five years after launching its services (in February 2016), the firm claims more than 250,000 clients and more than $5 billion (appr. €4 billion) of customer assets on its platform.
Fintech: Scalable Capital will Brokerage-Geschäft ausbauen handelsblatt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from handelsblatt.com Daily Mail and Mail on Sunday newspapers.