Munich-based robo-advisor Scalable Capital has closed a Series D investment round of €50 million ($58 million) at a post-money valuation €400 million ($460 million); BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures all participated in the funding round; Scalable Capital has built a platform to monitor and manage investment portfolios investing in stocks and ETFs and has 80,000 customers across Germany, Austria and the UK with more than $2 billion under management; CEO Erik Podzuweit said, “In times of Covid-19, our funding round is a powerful signal; it shows that our focused, digital business model is convincing the investors.” TechCrunch.
