Trade Republic raises $900 million at a $5 billion valuation

The crypto-friendly online broker Trade Republic raised $900 million in a Series C funding round. Investors valued the German company at more than $5 billion.

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Trade Republic announces $900M investment, led by @sequoia, to drive its mission to help close Europe’s pension gap. With a valuation of $5.3B Trade Republic is amongst the most valuable FinTechs in Europe. pic.twitter.com/5nYtJNamiu

— Trade Republic (@TradeRepublicDE) May 20, 2021

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The funding round was led by venture-capital firm Sequoia Capital. The company was also backed by TCV, Thrive Capital, Accel, Founders Fund, Creandum and Project A.

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Trade Republic offers clients trading of fractional shares and exchange-traded funds. In April 2021, in the app появилась the ability to trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

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The company operates in Germany, France and Austria. According to the press release, Trade Republic manages assets valued at more than €6 billion. Over the past 24 months its user base has grown to 1 million, half of whom had not previously invested in the capital markets.

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In an interview with TechCrunch, Trade Republic co-founder Christian Hecker said the fresh funding would be used for international expansion. Over the next four months, the company plans to enter the markets of all European Union member states.

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Earlier, in March 2021, the online broker Robinhood filed with the U.S. Securities and Exchange Commission an application to conduct an initial public offering.

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Earlier, the Uphold financial platform received regulatory approval to acquire the American broker-dealer JNK Securities.

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