BlackRock has acquired a stake in European robo-adviser Scalable Capital, joining two German venture capital funds to complete a €30m round of investment.

The US asset manager, which manages $5.4trn globally, joined existing investors Holtzbrinck and Tengelman in the latest round of funding for the Anglo-German online manager, which has gathered more than €250m of assets from 6,000 retail clients since its launch 16 months ago.