German Neobroker Trade Republic Announces US$900 Million Fundraise
by Fintechnews Switzerland May 26, 2021German neobroker Trade Republic announced that it has raised US$900 million in a Series C funding round which pushed its valuation to over US$5 billion at present.
The fundraise was led by Sequoia with participation from new investors TCV and Thrive Capital as well as existing investors Accel, Founders Fund, Creandum and Project A.
This marks one of Sequoia’s largest initial investments ever in Europe. The round is completed by TCV, who has invested into iconic consumer brands like Netflix, Spotify and Peloton until their IPOs and beyond, as well as by Thrive Capital, investors in Nubank and Oscar Health.
With this investment, Trade Republic said that it will push forward with its European expansion plans. The company also looks to grow its team.
The firm had previously raised €62 million during a Series B round led by Accel and Founders Fund in April 2020.
Trade Republic aims to help millions of people across Europe to invest money into capital markets with an easy-to-use and commission-free offering.
Christian Hecker
“At Trade Republic, we believe everybody should have the right to participate in economic growth. This requires an easy-to-use, accessible and affordable savings platform that is open to everyone.
Within just 24 months, we have empowered over one million people to put their money to work. For many Germans, French and Austrians, Trade Republic is the home screen app to manage their wealth.”
said Christian Hecker, Co-Founder of Trade Republic.
Thomas Pischke
“Fifty percent of Trade Republic’s customers, over 500k people, have never invested in capital markets before in their life. We empower people to start with wealth creation, who have been neglected by big banks for too long, with high fees and opaque products.
With over €6B in Assets under Management, we are the core savings account for our customers.”
adds Thomas Pischke, Co-Founder of Trade Republic.
Featured image credit: screengrab and edited from Trade Republic
