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Scalable Capital

“Can a European robo-advisor turned neobroker become the all-in-one bank for retail investors by holding its own ECB licence?”

Founded2014
HQMunich, Germany
FoundersErik Podzuweit, Florian Prucker, Adam French, Stefan Mittnik
IndustryFintech / Neobank
The story

Scalable Capital started in 2014 as a robo-advisor focused on algorithm-driven ETF portfolios (Wealth). In 2020 it pivoted to become a broader retail investment platform by launching Scalable Broker, competing with Trade Republic on flat-fee trading. In 2025 it acquired a full ECB banking licence via its new Scalable Capital Bank GmbH subsidiary, adding deposit (Tagesgeld/Festgeld), securities-backed lending (Scalable Credit) and multi-bank cash sweep — positioning itself as an all-in-one European digital bank rather than a pure brokerage.

Last 12 months
2025-09
2026-08
Product timeline
2014
Founded in Munich by Podzuweit, Prucker, French and Mittnik.· founding
2016
Launched as digital wealth manager (robo-advisor) offering ETF portfolios.· wealth
2020
Launched Scalable Broker — self-directed brokerage for stocks, ETFs, crypto, funds.· brokerage
2025
Granted full banking licence by ECB; Scalable Capital Bank GmbH becomes CRR credit institution supervised by BaFin/Bundesbank; launches savings (Tagesgeld/Festgeld) and Scalable Credit lending.· banking
2026
Surpassed 1M clients and €60B AUM across Germany, Austria, France, Italy, Spain, Netherlands.· milestone
Regulated entities
2
regulatory licences held by Scalable Capital
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Scalable Capital’s embedded-finance stack
Banking / BaaS
Scalable Capital Bank GmbH (in-house)
Card issuing
in the full report
Lending
in the full report
KYC
in the full report
Sponsor bank
in the full report
Investing
in the full report
Treasury
in the full report
Accounting gap: none
14 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.