Mobile investing pioneer Trade Republic has announced that it has raised a €62 million Series B round led by Accel and Founders Fund, to further the development of a European platform for mobile saving, investing, and trading.
Notably, this is one of the largest Series B rounds for a European fintech, and it comes only nine months after Trade Republic’s Series A round.
Christian Hecker, Co-Founder of Trade Republic, said:
“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.”
Based out of Berlin, Trade Republic was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri. This German platform allows everyone to invest in stocks, ETFs, and derivatives – mobile and commission-free.
It’s worth mentioning that, Trade Republic is licenced in Germany, supervised by the Bundesbank and BaFin and counts HSBC, BlackRock, and solarisBank as partners.
Since its launch in May 2019, more than 150,000 customers have opened a Trade Republic account, making it Europe’s leading Neo Broker. Almost one billion euros are now managed through the Trade Republic.
Christian Hecker continues:
“Nearly one-third of our customers buy their very first stock with Trade Republic. This demonstrates how we are empowering people whose needs haven’t been met by traditional banks to put their money in the capital markets for the first time.”
Luca Bocchio, Partner at Accel:
“Trade Republic’s team impressed us with its vision, beautiful product, strong traction, and clear potential to become the European leader for mobile smart investing. We are particularly excited about the strong focus on long-term savings and better access to the capital markets, which Trade Republic makes easier and more affordable.”
Founders Fund, which is backed by Peter Thiel and has already invested in companies such as Palantir, Airbnb, and SpaceX, is making its most significant investment in recent years in Germany with its Series B investment in Trade Republic.
Peter Thiel, Partner at Founders Fund, said:
“Trade Republic’s rapid growth in Germany testifies to the superiority of its technology platform over legacy offerings. The company is poised to become a major player in European finance.”
Main image credits: Trade Republic
Stay tuned to Silicon Canals for more European technology news