Scalable Capital, a digital wealth manager, has raised $180mn Series E funding.
In Brief:
Scalable operates as a “neo-broker” having started life as a B2B robo-advisor product.
The round was led by Chinese tech company Tencent and included existing shareholders.
Total capital raised by Scalable is now over $320mn.
What does this mean?
Scalable co-CEO Erik Podzuweit says that Tencent “complements” the firm’s existing partners. He says the firm’s international investors will help it accelerate growth across Europe.
