New round of Scalable capital going head to head with Numeg in the UK.
Scalable Capital, a fintech startup launched by a group of former Goldman Sachs employees, has launched in the UK and raised £5.6 million in a Series A funding round. The company first launched its digital wealth management platform in Germany in 2015. It plans to go live with it in the UK in the second quarter of 2016, after recently gaining approval from the FCA (Financial Conduct Authority). Scalable Capital, coheadquartered between London and Munich, will use the £5.6 million in funding to grow its operations across the UK and Germany. The money comes from existing investors Holtzbrink Ventures, Peng T. Ong’s Monk’s Hill Ventures, The German Startups Group, and MPGI.