Asset manager BlackRock takes stake in robo-adviser

Asset manager BlackRock has taken a large minority stake in robo-advice firm Scalable Capital.

The investment is part of a £26.3 million fund raising round. The companies did not disclose how big BlackRock’s investment was but said it had taken ‘a significant’ equity stake.

Following the deal BlackRock’s chief operating officer in Europe Patrick Olson will join Scalable Capital’s supervisory board.

Comment here