European securities-trading platform Trade Republic has raised $900m as it seeks to emulate the success of U.S. company Robinhood Markets Inc. in becoming the favoured app for younger traders.
The investment makes Trade Republic one of the most highly valued private financial-technology companies in Europe.
The Berlin-based company said Thursday that the Series C funding round was led by U.S. venture-capital firm Sequoia Capital and valued it at more than $5bn. The investment makes Trade Republic one of the most highly valued private financial-technology companies in Europe.
The Trade Republic Bank is Europe’s commission-free broker. Users only pay a fee of 1 euro per transaction forthe external settlement. Besides that, Trade Republic is the first broker in Germany to offer its customers thelong-term offer of zero-fee saving with more than 1.500 ETFs.
Source: Wall Street Journal
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