German wealthtech Trade Republic bags €250m in Series C extension
Berlin-based Trade Republic, which claims to be Europe’s largest savings platform, has announced a €250 million Series C extension.
The round is led by Ontario Teachers’, one of the world’s largest pension funds and institutional investors, along with the participation of existing investors. The extension is based on a post-money valuation uplift to €5 billion from €4.4 billion.
Trade Republic says it is “on a mission to set millions of Europeans up for wealth creation with secure, easy and commission-free access to capital markets”.
The company was founded in 2015 by Christian Hecker, Thomas Pischke and Marco Cancellieri. Its financial offering was built from scratch and the firm now claims over one million customers. It offers investing in equities and crypto as well as ETF and fractional stock savings plans.
“We are amid a transformation of pension systems in Europe,” says Hecker.
“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’ investment is an extension to last year’s Series C, which was led by Sequoia together with TCV, Thrive and the previous investors Accel, Creandum, Founders Fund and Project A.
Last year’s Series C round was one of Europe’s largest venture investments in financial services to date.