London, 8 June 2016 Scalable Capital today announced that it has started to onboard the first clients from its UK waiting list. The onboarding process will precede the platform’s full launch in the UK, expected in early July. Clients that have signed up to the UK waiting list will now be invited to go through the risk assessment process, before seeing their funds go live on the platform.
“We’re delighted to be welcoming our first UK customers on board ahead of the platform’s full launch in July this year,” said Adam French, Co-founder and Managing Director at Scalable Capital. “The UK waiting list has grown rapidly since we received FCA approval in February, and the feedback from the market has been overwhelmingly positive. We believe that Scalable Capital fills a gap in the wealth management market for clients that want access to a smart investment strategy at low cost, and we’re excited at the growth potential of the UK market.”
In March, Scalable Capital announced the signing of a second Series-A funding round of £5.6 million, taking its total funding to £8.8 million. The new capital is being deployed to build out Scalable Capital’s UK client base, as well as to fund selective expansion into new markets.
Notes to editors
Scalable Capital’s proprietary technology dynamically allocates each investor’s portfolio based on a quantitative measure of their risk appetite. The technology uses forward-looking projections, based on recent market developments, to measure the level of risk in the ETF products the client is invested in, and then reallocates their portfolio according to their risk limit. In contrast to traditional wealth managers, Scalable Capital adopts a fluid approach to the weighting of asset classes in its portfolios. This allows investors to capitalise on markets where risk is rewarded, and limit exposure to excess risk in more volatile conditions. This state-of-the-art technology is an institutional class investment product, available, for the first time, to retail investors, at a fraction of the cost.
The UK team consists of Adam French (formerly Executive Director of Goldman Sachs’s Trading Division); Simon Miller (formerly Vice President at Barclays Capital) and Dr. Ella Rabener (formerly Founder and CEO of Westwing Russia and Associate Partner at McKinsey & Company).
Its unique risk management technology was developed in close collaboration with Professor Stefan Mittnik, PhD, who holds the Chair of Financial Econometrics at the Ludwig Maximilian University in Munich and is the Director of the Center for Quantitative Risk Analysis.