Trade Republic Bank, a Berlin, Germany-based mobile-only broker, raised €10m in Series A funding in July 2019.
The round was led by Creandum, with participation from Project A.
The company, which has raised over €17 million in total so far, intends to use the funds to to further improve and expand its offering.
Launched in January 2019 by Christian Hecker, Trade Republic Bank introduced a mobile brokerage to Europe which frees customers from complex order commissions. For all asset classes and order sizes, investors pay a fixed fee of one Euro per trade to cover the external costs of the transaction.
Customers can already invest in over 6,500 German and international stocks, more than 500 ETFs, and a broad range of derivatives within the app.
The company partners with HSBC and solarisBank to grant security.
It holds a German banking license and is supervised by Germany’s Bundesbank and Bafin, the Federal Financial Supervisory Authority.
FinSMEs
19/08/2019