Erik Podzuweit studied business administration and economics in Kiel and at Warwick, then worked at Goldman Sachs. There he met Florian Prucker, who later became his co-founder and co-CEO.
In December 2014 they started Scalable Capital in Munich with Adam French and Stefan Mittnik. The robo-advisor launched in 2016, and BlackRock led a €30 million round in 2017 while ING became a partner.
The broker arrived in 2020. Tencent led a Series E of about €150 million in 2021, which valued the company at about $1.4 billion, and Scalable bought the ETF portal justETF in the same year.
In 2024 assets reached €20 billion. Scalable received a full ECB banking licence in 2025 and raised about €155 million at about €1.5 billion. By August 2026 it had more than 1 million clients and over €60 billion in assets.