UK robo advisor Scalable has doubled its assets under management in the last three months to EUR 200 million ($213 million); this includes approximately 5,000 client portfolios with an average value of EUR 40,000 ($42,659); the firm says it continues to grow steadily adding EUR 1 million ($1.07 million) in assets under management per day; Scalable launched in the UK in the summer of 2016; it has since expanded to Germany and Austria and has reported significant growth from a partnership with Siemens Private Finance for employee investment plans. Source
Scalable has reached 100 million British pounds ($121.72 million) in assets under management for its robo advisory services; the firm has been averaging new business of 5 million British pounds ($6.09 million) per week and has over 2,500 customers; it offers low fees and daily investment monitoring with risk focused algorithms. Source