Trade Republic confirms decacorn status, following secondary share sale

German stock trading app Trade Republic has confirmed a €12.5 billion ($14.7bn) valuation, following a secondary share sale which saw Peter Thiel’s Founders Fund and Sequoia buy more shares.

The new €12.5bn valuation propels Trade Republic to decacorn status (privately held company valued at over $10bn), more than doubling its 2022 approximate valuation of €5bn.

Investors sold shares worth €1.2bn to existing investors, including Founders Fund, Sequoia, Accel, TCV and Thrive Capital, Trade Republic said.

New investors in Berlin-based Trade Republic include Wellington, Fidelity and Khosla Ventures, it said. The deal doesn’t bring any new capital into Trade Republic.

Christian Hecker, co-founder and CEO, Trade Republic, said: ‘“This transaction underlines that the cultural shift to retail investing in Europe is only starting. Especially since governments such as Germany start meaningful pension reforms to foster private stock ownership in the broader public.”