The investment is coming from a mix of new and existing investors, including BlackRock, HV Holtzbrinck Ventures, and Tengelmann Ventures. It brings the total raised by the startup to EUR 116 million.
To date, Scalable has built out its business as both a B2B and B2C service. It sells its tech to banks who want to offer a ‘robo advisor’ option to its investor customers. Partners in that business include a mix of banks and other startups, among them Barclays, Gerd Kommer Capital, Raiffeisen Banking Group Austria, Raisin, ING Deutschland, Siemens Private Finance, the Openbank digital bank from Santander, Targobank from French Crédit Mutuel, Oskar, and Baader Bank.
The B2C service, which was launched in June 2020, offers a service to investors themselves. It includes a robo advisor for private investors with an ‘own asset management strategy’. The service branded ‘Prime Broker’ offers flat-rate trades.
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