German Fintech Increases Value Sevenfold
There’s exponential growth, and then there’s this. Berlin fintech and trading app Trade Republic has just concluded a USD 900 million round of funding and is now valued at USD 5.3 billion after being rated at USD 730 million at the end of last year.
Some of the fresh funds come from the US venture capital investor Sequoia, which also bankrolls rival American trading platform Robin Hood.
Trade Republic’s boom has been driven by the rise in participation in the stock market during the coronavirus pandemic. Over the space of roughly a year, Trade Republic increased its number of users from 150,000 to more than a million. It says that more than half had never before engaged with stock markets.
Trade Republic now plans to go international and become a European player, having already established itself in Austria and France.
The founders of Trade Republic © Trade Republic