Scalable Capital

Overview

Scalable Capital GmbH is a Munich-headquartered German digital investment platform and bank founded in 2014 by Erik Podzuweit, Florian Prucker, Adam French and Stefan Mittnik. It launched in 2016 as a robo-advisor offering automated portfolio management, added a self-directed brokerage in 2020, and today combines brokerage, digital wealth management, savings plans, cash and lending products in a single platform. Podzuweit and Prucker serve as co-chief executives.
Why this entity matters

Scalable Capital is one of the two German-founded platforms that reshaped how retail investors in the German-speaking market buy securities, and it reached unicorn status in June 2021 when a financing round led by Tencent valued it at about 1.4 billion US dollars. Its trajectory is a stepwise move up the value chain, from automated wealth management to brokerage, then to its own trading venue and then to a full banking licence, which makes it one of the clearest DACH case studies in how a FinTech converts distribution into infrastructure.
Company or institutional background

The company was founded in Munich in 2014 and began operating as a robo-advisor in 2016, and closed its direct-to-consumer United Kingdom service in 2021. BlackRock took a stake in 2017, the year Scalable Capital also began a distribution partnership with ING in Germany. A Series D of about 50 million euros followed in July 2020 alongside the launch of its broker; a Series E of more than 150 million euros led by Tencent in June 2021 brought the reported valuation to about 1.4 billion US dollars; a 60 million euro extension led by Balderton Capital in December 2023 was raised at an unchanged valuation; and a further round of about 155 million euros in June 2025 added Sofina and Noteus Partners alongside existing backers including Balderton, Tencent and HV Capital. The company acquired the ETF information portal justETF in November 2021, launched the European Investor Exchange with Börse Hannover in December 2024, and in September 2025 was granted a full banking licence by the European Central Bank covering deposit and lending business. By 2025 the platform held more than 30 billion euros for over one million customers.
Role in the DACH startup and technology ecosystem

Scalable Capital's closest direct competitor in the German neobroker market is Trade Republic; both were founded in Germany in the mid-2010s, both built mobile-first retail investing products around low-cost ETF savings plans, both have expanded into other European markets, and both now operate as licensed banks. Scalable Capital's own differentiator is vertical integration: with the European Investor Exchange it operates a trading venue together with Börse Hannover, which lets it handle trading, clearing, settlement and custody on its own platform rather than through external execution partners.
Selected relationships and affiliations

Scalable Capital was founded by Erik Podzuweit, Florian Prucker, Adam French and Stefan Mittnik. Its investors include BlackRock, Tencent, Balderton Capital, HV Capital, Sofina, Noteus Partners and Tengelmann Ventures. It operates the European Investor Exchange jointly with Börse Hannover and competes directly with Trade Republic.
Startuprad.io relevance

Scalable Capital is referenced across three Startuprad.io posts and is the direct comparator to the Trade Republic cluster already published in the Startuprad.io entity graph.
Public source context

Public information on Scalable Capital used for this record is drawn from the company's own https://de.scalable.capital/en/about-us and newsroom, its https://en.wikipedia.org/wiki/Scalable_Capital and https://www.wikidata.org/wiki/Q112245017 , its https://www.linkedin.com/company/scalable-capital , and public reporting on its financing rounds, its 2025 banking licence and its client-asset milestones.

Startuprad.io coverage of Scalable Capital

Episode #376 This Month in German, Swiss, and Austrian (GSA) Startups — March 2023
Published: 15 March 2026
Last updated: 30 August 2026
Coverage type: News
https://www.startuprad.io/post/episode-376-this-month-in-german-swiss-and-austrian-gsa-startups-march-2023

This Month in German, Swiss, and Austrian (GSA) Startups — Summer 2022 Wrap-Up
Published: 15 March 2026
Last updated: 30 August 2026
Coverage type: News
https://www.startuprad.io/post/this-month-in-german-swiss-and-austrian-gsa-startups-summer-2022-wrap-up

Why N26 Wants to Be a NeoBroker And Why Neobrokers Are HOT And Maybe In Danger
Published: 15 March 2026
Last updated: 29 August 2026
Coverage type: Analysis
https://www.startuprad.io/post/why-n26-wants-to-be-a-neobroker-and-why-neobrokers-are-hot-and-maybe-in-danger

How to Build a Global Startup Hub 101 (2/2) | European Startup Pulse — Founder Interview
Published: 15 March 2026
Last updated: 27 August 2026
Coverage type: Interview
https://www.startuprad.io/post/how-to-build-a-global-startup-hub-101-2-2-european-startup-pulse-founder-interview

This Month in German, Swiss, and Austrian (GSA) Startups — May 2022
Published: 15 March 2026
Last updated: 14 August 2026
Coverage type: News
https://www.startuprad.io/post/this-month-in-german-swiss-and-austrian-gsa-startups-may-2022

Why N26 Wants to Be a NeoBroker, Why Neobrokers Are HOT And Maybe In Danger
Published: 21 December 2021
Last updated: 30 August 2026
Coverage type: Analysis
https://www.startuprad.io/post/why-n26-wants-to-be-a-neobroker-why-neobrokers-are-hot-and-maybe-in-danger

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Canonical record: https://www.startuprad.io/entities/scalable-capital