Scalable Capital, online asset manager from Munich, who also operates a broker offer in Germany, now wants to open up three more European markets with this.
Co-boss Erik Podzuweit confirmed to the Bloomberg news agency that the three markets of Spain, Italy and France should be connected by January at the latest.
According to Podzuweit, they are the most populous countries after Germany and accordingly offer the most potential customers.
In addition, there has only been one or two strong brokers in each of the three markets.
Later next year, Scalable Capital also plans to expand into Austria and the Netherlands.
In Austria, the fintech already operates its asset management.
Gregor Brunner
Editor in business.
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Scalable started the broker in summer 2020. Previously, the fintech was mainly active in asset management and as a technology supplier for other financial service providers. According to Podzuweit, the broker currently has 200,000 customers who have invested around 2.5 billion euros. “The broker developed strongly during the pandemic as there were a lot of people at home and the markets were volatile. That helped the start, ”Podzuweit told Bloomberg. "The number of customers is still increasing rapidly and in my opinion it will stay that way, even if it is no longer at the same level as, for example, in January of this year."
Scalable Capital has set itself the goal of becoming Europe's leading investment platform for private clients.
For this purpose, 150 million euros from a financing round that was held in the summer of this year should serve.
The company had already been active in Switzerland and Great Britain with its offers.
At nearly two years of age, activities in Switzerland were short-lived.
The reasons given for the withdrawal were regulations and the lack of an independent branch there.
Most of the business in Great Britain was also discontinued after a good four years.
Only existing customers can access the fintech services there.