Trade Republic, which claims to be Europe’s largest savings platform, announces a €250M Series C extension.
The investment round is led by Ontario Teachers’, which is 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 €5.0B (previously €4.4B), underlining Trade Republic’s strong business performance and growth.”
Christian Hecker, co-founder of Trade Republic, says:
“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. 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’ manages the assets of over 333,000 teachers in Ontario, Canada, “with more than C$240B in net assets invested globally.”
This investment is “made by the High Conviction Equities team, which provides flexible, partner-centric capital across the equity capital structure – focusing on companies that are public or on a growth trajectory to go public.”
Maggie Fanari, Managing Director and Global Group Head, High Conviction
Equities, at Ontario Teachers’, adds:
“We are passionate about organizations that are using technology to tackle some of the world’s most pressing challenges Through their savings platform, Trade Republic democratizes access to financial markets for millions of Europeans, providing the tools for wealth accumulation and empowering them to have brighter financial futures.”
To change the financial system, Trade Republic has “built a financial offering from scratch since 2015 with an easy-to-use product everybody can afford.”
The company has “seen fast growth across continental Europe with innovative, secure, and commission-free financial products and already approaches over 280m people in six European countries.”
Christian Hecker notes:
“The funding extension puts us in the best potential position to deliver on our mission within a changing market environment, In recent years, we have successfully grown the company to multiple products in many countries. We will focus all our energy to build services our customers love and invest strongly into technology to run the most efficient banking platform.”
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.
Trade Republic is on “a mission to set millions of Europeans up for wealth creation with secure, easy and commission-free access to capital markets.”
With over one million customers, Trade Republic is already “the home screen app for many Europeans to manage their wealth. It offers investing in equities and crypto as well as ETF and fractional stock savings plans.” Trade Republic is “a technology company supervised by Bundesbank and BaFin.” As Europe’s largest savings platform Trade Republic has “received investments by Accel, Creandum, Founders Fund, Ontario Teachers‘, Project A, Sequoia, TCV and Thrive Capital.” The company based in Berlin was “founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.”