Deals
BlackRock Said to Acquire Stake in Robo-Adviser Scalable
- World’s biggest asset manager leads $33 million venture round
- Scalable Capital runs online advisory platform in Europe
This article is for subscribers only.
Fund giant BlackRock Inc. has entered the European robo-advice market by taking a minority stake in Scalable Capital, according to a person with knowledge of the matter.
BlackRock led a 30 million euro ($33 million) funding round for Scalable alongside the startup’s two existing venture capital investors in Germany, said the person, who asked not to be identified because the information hadn’t been announced. Reuters reported the investment earlier Monday.