Berlin’s Trade Republic has raised €250 million in a Series C extension led by Ontario Teachers’ Pension Plan Board (Ontario Teachers’), adding to the 2021 $900 million Series C led by Sequoia. According to the company, the additional capital will be used to further focus on product development.
Founded in 2015 by Christian Hecker, Marco Cancellieri, and Thomas Pischke, Trade Republic is now valued at €5 billion and saw a blistering acquisition of over one million customers in Germany, France, and Austria in the first 24 months of operation.
The secret sauce at Trade Republic lies in an ETF or fractional stock savings plan. This method allows individuals to invest free of charge over time and on a regular basis. In addition to equities, Trade Republic has recently opened its doors to cryptocurrencies, reflecting the market demand to adjust to the aforementioned inflation and negative interest rates.
"With Ontario Teachers’, one of the leading global pension funds joins us on our mission to support people to participate in the long-term growth of the economy,” commented Hecker. “We are amid a transformation of pension systems in Europe. The financing will help us to invest strongly into product innovation to empower millions of Europeans to put their money to work. Improving our valuation in the light of the current market environment is a true testament to our progress in the last twelve months and the large potential ahead."
Ontario Teachers’ €250 million investment ads on to the $900 million Series C round led by Sequoia together with TCV, Thrive and the previous investors Accel, Creandum, Founders Fund, and Project A.
“We are passionate about organisations that are using technology to tackle some of the world’s most pressing challenges,” explained Ontario Teachers' Maggie Fanari. “Through their savings platform, Trade Republic democratises access to financial markets for millions of Europeans, providing the tools for wealth accumulation and empowering them to have brighter financial futures.”
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