The LSE Directory / Retail brokers
Scalable Capital is a Munich-based digital investment platform that became a fully licensed bank in September 2025, when the European Central Bank authorised it as a CRR credit institution supervised by BaFin and the Deutsche Bundesbank. Its product line splits into Scalable Broker, a self-directed trading app for stocks, ETFs, derivatives and cryptocurrencies with savings plans starting at 1 euro, and Scalable Wealth, an automated portfolio-management service. Since the banking licence it also takes client deposits directly and offers consumer lending, running account management, trading, clearing, settlement and custody in house rather than through a third-party partner bank. It differentiates itself from other European neobrokers by operating its own trading venue: together with Boerse Hannover it runs the European Investor Exchange (EIX), a commission-free electronic market that launched with roughly 15,000 tradable securities, on which Scalable and mwb fairtrade Wertpapierhandelsbank act as market makers. It also owns justETF, an independent ETF research and comparison portal acquired in November 2021, giving it a content and lead-generation channel outside its own app. Its target customer is the self-directed European retail investor, and its brokerage and wealth-management products are available beyond Germany in Austria, France, Italy, Spain and the Netherlands. The company was founded in Munich in 2014 by Erik Podzuweit, Florian Prucker, Adam French and Prof. Dr. Stefan Mittnik, launching first as a robo-advisor in 2016 before adding self-directed brokerage in 2020. It has raised more than 470 million euros across multiple funding rounds, including a 2018 round backed by BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures, a 2021 Series E led by Tencent that valued the company at roughly 1.4 billion dollars, and a June 2025 round led by Sofina and Noteus Partners with Balderton Capital, Tencent and HV Capital also participating. Assets under management passed 1 billion euros in May 2018, 10 billion euros in August 2022 and 20 billion euros in April 2024, and stood above 30 billion euros for more than 1 million customers at the time of the September 2025 banking licence announcement. Erik Podzuweit and Florian Prucker serve as co-CEOs, and the company employed more than 700 people as of 2025. Following the banking licence, Scalable Capital began rolling out its own deposit and lending products from October 2025, including variable-rate loans and interest paid on client cash balances, which the company frames as completing a vertically integrated model spanning investing, saving and financing under one roof.
