By Oliver Smith on Wednesday 20 April 2022
After raising $180m from Tencent last year, Scalable is expanding.
Investment platform Scalable Capital is expanding further into Europe today with its launch in Italy.
Scalable is offering Italian investors access to its commission-free trading platform, savings plans and its just-launched crypto investments.
While the fintech’s ‘robo advisor’ service isn’t part of the launch, Scalable said it will be coming soon as it rolls out more services from its investment platform.
“The online broker, with savings plans and crypto is only the beginning,” said co-CEO and co-founder Erik Podzuweit.
“We aim to roll out our full investment platform to the Italian market. We will make even more services accessible to our Italian clients such as our leading robo advisor.’
Scalable Capital already operates in Germany, France, Spain, Austria and while it wound down its UK business in 2021, continues to act as a B2B technology provider in the UK.
The firm says it now has over 500,000 clients who have invested over €6bn via its platform.
"The Italian market has a strong unexpressed potential and we are convinced that we can contribute to making the world of finance more accessible and transparent for all types of potential investors,” said Alessandro Saldutti, Scalable’s country manager for Italy.
“Italians have a high propensity to save money, usually storing it in deposit accounts and government bonds. However, rising inflation and the low yields of these instruments are enabling more and more Italians to consider investing in the financial markets.”
In December Scalable introduced crypto investments via crypto exchange-traded products (ETPs) through a partnership with CoinShares.
Its core trading service of shares, ETFs, mutual funds and cryptocurrencies is available at a flat-fee of €2.99/month for unlimited trading, or €0.99 per trade.
Your daily 7am download of all things alternative finance and fintech.
Fintech and alternative finance headlines with an exclusive Editor’s Note each week. Delivered Monday at midday.
AltFi’s new weekly US newsletter breaking down the ins and outs of America’s burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.
12 September 2022
Amelia Isaacs
21 September 2022
Stephan Roth
21 September 2022
Daniel Lanyon
15 September 2022
Daniel Lanyon
23 September 2022
Amelia Isaacs
AltFi provides market-leading news, opinion, insights and events for the rapidly-growing alternative finance and fintech community. Our core focus is on disruption to lending, banking and investing, including alternative lending, challenger banks and digital wealth management. In addition, AltFi runs major industry events around the world. Find out more
1 Poultry,
London,
EC2R 8EJ
United Kingdom
© 2013-2022 All rights reserved.