Scalable Capital, a digital wealth manager based on investors' appetite for risk, has added Tengelmann to its investor base in a $7.9m round that took its overall funding past $12m.
UK-based digital investment manager Scalable Capital raised £5.6m ($7.9m) on Wednesday in a series A round that included Tengelmann Ventures, retail group Tengelmann’s corporate venturing arm.
The round was co-led by Holtzbrink Ventures, Monk’s Hill Ventures, German Startups Group and MPGI, the investors that had previously supplied almost €4m ($4.5m) in funding for Scalable in January and April 2015 rounds.
Founded in late 2014, Scalable’s technology puts together investment portfolios for its users based on a quantitative measure of their…
