Tengelmann Ventures, which previously took part in the digital wealth manager's series A round last year, has returned for a $33.5m series B.
UK-based digital investment manager Scalable Capital secured €30m ($33.5m) in a series B round on Tuesday that included Tengelmann Ventures, the corporate venturing vehicle for retailer Tengelmann.
The round was led by investment management company BlackRock and included venture capital firm HV Holtzbrinck Ventures. It is expected to close in the third quarter of 2017, subject to regulatory approval.
Founded in 2014, Scalable Capital has developed technology that generates investment portfolios based on a customer’s risk appetite and recent market…
