sCalable Capital, an online asset manager from Munich that also operates a broker service in Germany, wants to use this to open up three more European markets. Co-chairman Eric Bodzuwet confirmed to Bloomberg News that the three markets in Spain, Italy and France should be linked by January at the latest. According to Podzuweit, it is the most populous country after Germany and therefore offers the most potential clients. In addition, there were only one or two powerful brokers in each of the three markets. Later next year, Scalable Capital also plans to expand into Austria and the Netherlands. In Austria, Fintech already manages its asset management.
The Scalable broker started in the summer of 2020. Previously, fintech was mainly active in asset management and as a technology resource for other financial service providers. According to Podzuweit, the broker currently has 200,000 clients who have invested around 2.5 billion euros. “The broker has developed aggressively during the pandemic as there were a lot of people inside and the markets were volatile. It helped at first,” Budzuwet told Bloomberg. “The number of clients is still increasing rapidly and in my opinion it will remain that way, even if it is not at the same level as in January of this year, for example.”
Scalable Capital has set itself the goal of becoming Europe’s leading investment platform for private clients. For this purpose, it must serve 150 million euros from the financing round held in the summer of this year. The company was already active in Switzerland and Great Britain with its offerings. At about the age of two, activities in Switzerland were short-lived. The reasons for the withdrawal were the regulations and the lack of an independent branch there. Most of the business in Great Britain has also been discontinued after four good years. Only existing customers can access fintech services there.
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