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Scalable Capital doubles client assets to €10 billion

Digital wealth management platform and online broker Scalable Capital has doubled client assets over the past 12 months to hit a high water mark of €10 billion in assets under management.

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Scalable Capital doubles client assets to €10 billion

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The company, which moved into crypto trading in December, now claims more than 600,000 clients on its platform.

The crypto offering came six months after Scalable Capital raised more than €150 million in a Series E funding round led by Chinese tech conglomerate Tencent.

"In just a few years, our assets went from zero to ten billion euro. We’re 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," says ex-Goldman banker Erik Podzuweit, co-founder and co-CEO of Scalable Capital. "This achievement further motivates us to enhance our offering and expand our investment platform across Europe."

Available to investors in Germany, Austria, France, Italy, Spain, and the UK, the firm has recently redcued its original minimum investment amount of €10,000 to just 20 euro per month via a savings plan. One-off investments without a savings plan are possible from as little as €1,000.

The firm says the new pricing has led to an influx of younger millennial investors attracted to the opportunities presented by investing in Exchange Traded Funds, as well as easy access to crypto trading.

"We make trading crypto as easy as trading shares or ETFs," says Podzuweit. "Crypto currencies are well established as an asset class in a balanced portfolio. With 'Scalable Crypto', we are providing an affordable and intuitive offering to help even more people to enter the crypto world."

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