On June 20, 2017, Scalable Capital announced the signing of a €30 million financing round, led by BlackRock and existing investors.
After the closing of this financing, Scalable Capital (“Scalable”) will have raised €41 million in funding. Under the terms of this agreement, BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures will acquire a minority stake in Scalable. In addition, BlackRock’s Chief Officer of EMEA, Patrick Olson, will also join Scalable’s Supervisory Board. This transaction is expected to close in the third quarter of 2017, subject to regulatory approval.
Founded in 2014, Scalable is a European digital investment manager that uses proprietary software to offer investors technological solutions for portfolio construction, risk management, and digital distribution. Scalable has amassed more than €250 million of assets from over 6,000 retail clients.
Founded in 1988, BlackRock is a global investment manager that has approximately 13,000 employees in more than 30 countries. It has approximately $5.4 trillion in assets under management as of March 31, 2017.
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