Tencent led a BlackRock-backed round that tripled wealth management platform developer Scalable Capital's valuation to $1.4bn.
Scalable Capital, the Germany-headquartered operator of an online wealth management platform, has raised €150m ($183m) in a funding round led by internet and gaming group Tencent.
The round also featured undisclosed existing investors and it valued the company at $1.4bn according to TechCrunch.
Founded in 2014, Scalable has built an online platform for digital wealth management services that allows users to trade stocks and exchange-traded funds at a flat rate of about $3.65 per month. It also recently introduced a…
