Scalable Capital secured €50m in a Series D funding round backed by BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures.

Scalable Capital, a Munich, Germany-based company operating an investment platform to monitor and manage investment portfolios investing in shares, manage trades and exchange traded funds for a flat fee of €2.99 per month, announced that it secured a capital round of €50 million ($57 million).

The round was backed by BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures and puts a post-money valuation €400 million ($460 million). Money will be used for product development and expansion across Europe, as well as speed up its growth in wealth management, brokerage as well as its B2B business.

Scalable Capital, founded in 2014 by Adam French, Erik Podzuweit (CEO), Florian Prucker, Manuela Rabener, Patrick Poschl, Simon Miller, Stefan Mittnik, has around 80,000 customers across Germany, Austria and the UK and sits on more than $2 billion under management on its platform.

Prior to this round, Scalable capital secured about €66 million in outside funding.