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Scalable Capital strikes BlackRock investment deal

Scalable Capital strikes BlackRock investment deal

Scalable Capital is offering UK-based BlackRock employees streamlined access to its investment management service as it expands its reach to a wider audience.

The agreement comes after BlackRock took minority stake in the robo-adviser this June in a €30 million (£26 million) funding round.

Commenting on the deal, Scalable co-founder and chief executive Adam French (pictured left) 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.'

Patrick Olson, BlackRock’s deputy global chief operating officer and member of Scalable's supervisory board said: 'The quality of Scalable Capital’s technology combined with the simplicity and ease of use make this a valuable proposition to BlackRock employees.'

The deal comes after the fintech firm entered a partnership with the German subsudiary of ING in September, gaining access to more than eight million customers with assets of some €150 billion (£133 billion). 

Scalable, which was co-founded in 2016 by French, Ella Rabener (pictured middle) and Simon Miller (right) and also has operations in Germany, now manages more than £300 million in assets across some 10,000 clients.

 

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