Mobile investing pioneer Trade Republic has today 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.
One of the largest Series B rounds for a European FinTech, it comes only nine months after Trade Republic’s Series A round.
In Accel and Founders Fund, Trade Republic gains two of the world’s most renowned technology investors, as it opens up investing in the capital markets for more people across Europe.
Berlin-based Trade Republic was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.
It allows everyone to invest in stocks, ETFs, and derivatives – mobile and commission-free. Quality and service have been an important focus from start, and 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.
“We empower everyone to take their financial investments into their own hands,” says Christian Hecker, Co-Founder of Trade Republic.
“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 democratising access to capital markets.
“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,” Christian Hecker continues.
Luca Bocchio, Partner at Accel said, “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.”
“This support from some of the world’s leading technology investors brings with it the financial resources and networks to enable us to substantially change the European investing market over the coming years,” explains Co-Founder Thomas Pischke.
“We want to grow as a technology company and continue to attract the brightest minds to our team.”
The investment will be used to further support the company’s dynamic growth. Following the successful launch of its waiting list in Austria, the company plans to open up trading there in the next couple of months and then expand across Europe in the coming years.