"Achieving Peak Performance Demands Obsession": Scalable Capital Leaders Emphasize Discipline, IPO Strategies, and Exit Plans
In a glance, Erik Podzuweit seems chill and thoughtful – almost scholarly. But, folks who engage with the big-kahuna CEO and co-founder of Scalable Capital soon realize there's a relentless engine chugging away under the hood for years.
"Without obsession, you'll never crack the code for peak performance—and you won't keep it up, either," Podzuweit declared to Gruenderszene in an insightful conversation.
This seemingly simple statement says a lot about him and his organization. Scalable Capital plans to own the European fintech market for the long haul, and they've just wrapped up their biggest funding round ever.
Erik Podzuweit is nominated for THE POWER LIST – Germany's Top 50. Business Inider, in cahoots with POLITICO and WELT, is shining the spotlight on Germany's economic titans. The final Top 50 will drop on June 5th and be honored by BCG, Mercedes, Visa, and Vodafone. Find all the portraits and interviews here.
€155 million for the next phase of growth
This Munich-based fintech just pocketed €155 million (US$175 million). The round is headed by investors Sofina and Noteus Partners. For Podzuweit, this is a major milestone.
From Goldman Sachs to fintech boss
Podzuweit wasn't always an entrepreneurial visionary. He cut his teeth in investment banking at Goldman Sachs. A pal's recommendation scored him that gig: "A friend of mine did an internship there and said, ‘You'd dig it.’ So I applied—and I snagged it." The cat who hired him back then is now Podzuweit's co-CEO at Scalable Capital. "Things come full circle sometimes," he quipped dryly.
Goldman served as Podzuweit's boot camp. "You learn to push yourself—and it stops surprising you later." Most importantly, he learned the importance of precision under pressure: "Ideas had to become tangible results—and mistakes were costly."
The experience at Goldman had a competitive edge to it, Podzuweit reminisced. "You're on the trading floor, chaos everywhere, hundreds of people. You scarf down breakfast, lunch, and dinner in front of the screen. I was into it."
The stereotypical finance industry vices—drugs, parties akin to Hollywood blockbusters—Podzuweit never encountered. "The scene – wild drug use, partying like in movies? Nada. It was too serious and professional for that," he said—or so he claims.
Naïve ambition and four years in a bunker
In 2014, he made his move. Alongside co-founder Florian Prucker, Podzuweit spent a weekend brainstorming business ideas. Post-brainstorm, it was a foolhardy leap: "On Monday, everyone who wanted to be part of the squad had to call it quits on their jobs. I also abandoned my pad to save some dough and hunkered down in a kind of bomb shelter at my bro's crib for four years."
Why the dramatic exit? "You need that wide-eyed belief that it'll work," said Podzuweit. "If you knew the twists and turns upfront, you might not have taken the plunge." Around half of it is planning, the rest is winging it.
Podzuweit on IPO and exit
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"What about investing this newly acquired €155 million in technology to further advance Scalable Capital's Fintech business?" Podzuweit pondered, considering the immense potential.
"Reflecting on his journey from Goldman Sachs to the helm of Scalable Capital, Erik Podzuweit muses, 'Without the rigorous discipline and emphasis on precision under pressure I learned in investment banking, the success of our fintech business might not have been possible.' "
