Scalable Capital, a Munich, Germany and London, UK-based investment robo advisor, raised €7M in funding.
Backers included Holtzbrink Ventures, Monk’s Hill Ventures, The German Startups Group Rainer Mauch and MPGI.
The company intends to use the funds to continue to grow in Germany, build the business in the UK and launch in other select markets.
Co-founded in 2014 by Adam French, Florian Prucker, and Erik Podzuweit, and also led by UK co-founder Manuela Rabener, Scalable Capital leverages proprietary risk management technology to dynamically allocate each investor’s portfolio based on a quantitative measure of their risk attitude.
To do this, the platform selects cost-efficient Exchange Traded Funds (ETFs) and monitors and manages the portfolio continuously.