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BlackRock pushes into Europe's 'robo-advice' market

Asset manager takes a stake in digital investment manager Scalable Capital

Published Tue, Jun 20, 2017 · 09:50 PM
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London

BLACKROCK, the world's biggest asset manager, made its first push into Europe's "robo-advice" market on Tuesday after taking a stake in Anglo-German digital investment manager Scalable Capital.

BlackRock, which manages US$5.4 trillion across a range of actively managed and index-tracking funds, led a 30 million euro (S$46 million) funding round for Scalable alongside its two existing German venture capital backers, a joint statement said.

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