Sofina-backed digital investment platform Scalable Capital has secured a full banking licence from the European Central Bank, allowing the German fintech to expand its services beyond investments to include deposit-taking and lending operations across Europe.
The newly licensed Scalable Capital Bank, which will operate under the supervision of Germany’s Federal Financial Supervisory Authority (BaFin) and the Deutsche Bundesbank, plans to roll out a suite of enhanced services beginning 1 October 2025.
This includes plans for a new credit offering, which will provide users with flexible loans between €1,000 and €100,000, without fixed terms or predetermined repayments.
The licence also brings changes to Scalable’s interest-bearing accounts. Currently, both Free and Prime+ subscription plans offer 2% annual interest. After the October launch, Prime+ accounts will have no cap on interest-bearing balances, while the interest-bearing limit on Free accounts will double to €100,000.
Prime+ balances will be held between Scalable Capital Bank and several partner banks, currently including Deutsche Bank, HSBC Continental Europe, and Münchener Hypothekenbank, with a company statement promising further partnerships will “follow shortly”.
Headquartered in Munich, Scalable Capital was founded in 2014 to provide retail investors with access to professional investment services that were previously available only to wealthy individuals.
The company initially launched its digital wealth management service in 2016, before later expanding to include a neo-broker platform in 2020 that allows clients to trade shares, ETFs, and funds affordably. Also operating in Berlin and London, Scalable Capital manages over $34 billion in assets for more than one million customers.
The banking licence approval comes only three months after Scalable Capital secured $175 million in a funding round led by Sofina and Noteus Partners. Marking the company’s largest fundraise to date, with $535 million raised in total, the round also drew support from Balderton Capital, Tencent, and HV Capital.
Source: https://www.fintechfutures.com/
