Scalable Capital, a fintech company based in Munich, has raised €155 million (US$169 million) in its latest funding round.

This round is the largest in the firm’s history and includes participation from new investors Sofina and Noteus Partners, alongside existing backers Balderton Capital, Tencent, and HV Capital.

With this funding, Scalable Capital’s total investment has surpassed €470 million (US$520 million).

Founded in 2014, the company operates a digital investment platform serving over one million customers who manage more than €30 billion (US$32.7 billion) in assets.

It employs over 600 people across offices in Munich, Berlin, Vienna, and London.

The funding will support the ongoing development of Scalable Capital’s investment platform and its expansion efforts across Europe.

.source-ref{font-size:0.85em;color:#666;display:block;margin-top:1em;}a.ask-tia-citation-link:hover{color:#11628d !important;background:#e9f6f5 !important;border-color:#11628d !important;text-decoration:none !important;}@media only screen and (min-width:768px){a.ask-tia-citation-link{font-size:11px !important;}}

🔗 Source: EU-Startups

🧠 Food for thought

1️⃣ Scalable’s evolution from robo-advisor to full-stack investment platform marks fintech maturation

Scalable Capital has transformed dramatically since its 2014 founding, when it began as a straightforward algorithm-driven robo-advisor managing ETF portfolios.

In its early days, the company focused on automated wealth management with a competitive 0.75% annual fee structure, initially managing just €600 million in assets by 2018 1.

This latest €155 million funding round reflects Scalable’s successful pivot to a much broader business model that now spans brokerage services, wealth management, and even its own European Investor Exchange.

The company’s valuation has grown significantly from approximately €150 million in 2017 1 to a much higher implied valuation today, with investors now having committed over €470 million total to the company.

This vertical integration strategy sets Scalable apart from single-service competitors and aligns with global fintech trends where successful companies expand beyond their initial niche to capture more of the customer’s financial journey.

2️⃣ European retail investing shows massive growth potential despite cultural hesitancy

Only 16% of Germans invest in stocks or stock funds according to Scalable’s own research 2, highlighting the significant untapped market that exists in Europe’s largest economy.

The European robo-advisory market specifically is projected to grow from just €4 billion in assets under management in 2019 to €98 billion by 2024 3, representing a dramatic shift in how Europeans approach investing.

Scalable’s expansion into new products like private equity investments through ELTIFs and children’s investment accounts directly addresses this growth opportunity by making previously inaccessible asset classes available to retail investors.

Traditional financial institutions recognize this shifting landscape, with major banks like ING partnering with fintechs rather than developing their own solutions—as evidenced by ING’s 2017 partnership with Scalable Capital to offer digital investment services to its German customers 4.

BlackRock’s early strategic investment in Scalable Capital in 2017 5 similarly demonstrates how established financial giants are leveraging fintech partnerships to reach new customer segments, particularly younger investors who prefer digital-first solutions.

3️⃣ Strategic partnerships drive fintech growth in European wealth management

Scalable Capital’s success has been accelerated by key strategic partnerships with established financial institutions, beginning with BlackRock’s stake in 2017 that provided both capital and institutional credibility 5.

The company’s partnership with ING to provide automated wealth management to the bank’s German customers 4 demonstrated how fintechs can extend their reach by working with traditional banks that have large existing customer bases.

These collaborations proved mutually beneficial—banks gained innovative technology without building it internally, while Scalable secured distribution channels and customer trust that would have taken years to develop independently.

Beyond banking partnerships, Scalable also established collaborations with companies like Siemens 1, opening up corporate channels to reach potential investors who might not otherwise engage with investment platforms.

This partnership model appears central to Scalable’s growth strategy, providing both distribution advantages and the credibility needed in the highly regulated and trust-dependent financial services industry.

……