Digital wealth manager Scalable Capital raises £23m

The European online investment firm, which launched in the UK in July 2016, said the funding would be primarily used to expand its software engineering team to accelerate business with retail clients. It currently has 100 employees working out of offices in Munich and London and has raised a total €66m since inception. Scalable Capital also said the funding would be used to offer white-label services to banks, insurers and asset managers. The so-called robo-adviser has more than €1.5bn (£1.38bn) assets under management from 50,000 clients. Back in January 2018, when Scalable had aroun...