Robo-advisor attracting €1m a day
Robo-advisor Scalable Capital has announced that it has doubled its assets under management in the past three months and is now managing €200m on behalf of its clients.
The company manages approximately 5,000 bespoke ETF portfolios for clients with an average value of €40,000, and said its assets are currently growing at a rate of €1m a day. It claims to be one of the fastest-growing Fintech companies in Europe.
Scalable Capital went live in the UK in summer 2016. In January 2017, Siemens Private Finance chose the fintech start-up as its ‘exclusive partner’ to offer a wealth management solution to Siemens employees in Germany.
Adam French, founder and chief executive of Scalable Capital, said: “Our service has really struck a chord with frustrated retail investors who know that they should be making their money work harder but the lack the time or expertise to manage their investments on their own, or who are frustrated with the high costs of traditional solutions.”
Scalable's service rests on proprietary technology that allocates investors exchange traded fund (ETF) portfolios based on their risk appetite. The company currently operates in Germany, the UK and Austria.