Scalable Capital, an online asset manager from Munich, which also operates a brokerage offering in Germany, now wants to open up three other European markets with this. The Bloomberg news agency confirmed co-chief Erik Podzuweit, that the three markets Spain, Italy and France should be connected by January at the latest. They are the most populous countries after Germany and therefore offer the most potential customers, Podzuweit explains the decision. In addition, there are only one or two strong brokers in the three markets so far. Later next year, Scalable Capital also plans to expand into Austria and the Netherlands. Fintech already operates its asset management in Austria.
Gregor Brunner Editor in Business. Follow I follow
Scalable had launched the broker in the summer of 2020. Previously, fintech was mainly active in asset management and as a technology supplier for other financial service providers. According to Podzuweit, the broker currently has 200 000 customers who have invested around 2.5 billion euros together. “The broker has performed strongly during the pandemic due to the presence of many people at home and the volatility in the markets. That favored the launch,” Podzuweit told Bloomberg. “The number of customers is still increasing very strongly and in my opinion this will remain the case, although not at the same level as in January this year, for example.“
