Scalable Capital, a digital investment service with offices in Munich and London, has signed an agreement to offer BlackRock’s UK-based staff access to its investment management services.
The move follows BlackRock’s participation in a €30m funding round for Scalable and its acquisition of a minority stake in the robo adviser in June 2017. The cash infusion took the robo adviser’s total funding to €41m.
Scalable Capital co-founder and CEO Adam French said: “We are very pleased that BlackRock embraces the benefits of digital investment management and that we are given the opportunity to help their UK workforce manage their personal investments using our sophisticated methodology.”
Scalable was launched in Germany in February 2016 and in the UK in July 2016. The firm currently has over £300m in assets. It most recently signed deals to offer wealth management services to ING-DiBa and Siemens Private Finance in Germany.