Trade Republic, the Berlin-based mobile investing pioneer has raised a $67 million in Series B funding round. This investment reminds the Robinhood of the US that has led the charge through its mobile-first, minimal-step, commission-free trading platform in upending the stock investing model.
The new round of online broker Trade Republic has been led by the Slack investor Accel Partners and Peter Thiels Founders Fund. According to the company, it aims to use the latest round in order to expand its business into more markets in Europe and to move into adjacent business lines in the near future.
Founded in 2015, Trade Republic allows everyone to invest in stocks, ETFs, and derivatives – mobile and commission-free. The newly raised fund is one of the largest Series B rounds for a European FinTech which comes only nine months after the company’s Series A funding round which was raised for an undisclosed terms. The company claims that, in May 2019, more than 150,000 customers have opened a Trade Republic account which are collectively managing more than €1 billion through the app. After that achievement the platform has become the Europe’s leading Neo Broker. The company is currently operating in Germany and Austria with a mission to add more countries soon.
Christian Hecker, the Co-Founder of Trade Republic states, “We empower everyone to take their financial investments into their own hands. About 85% of assets of European households are in bank accounts with mostly zero or negative interest rates. Our app enables people to invest their money safely, quickly, and transparently. By doing so, we are democratizing access to capital markets. With the intuitive Trade Republic app, everyone can save, invest and trade easily and commission-free.” He further includes, “We want to be the one-stop shop for trades, and we want to grow that as a safe space. We plan to introduce a sequence of savings features in the next couple of months. We see saving as our biggest growth path in the years to come.”
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