European
financial services company Trade Republic has announced it now has 4 million
customers across 17 countries who have invested approximately €35 billion
through Trade Republic’s platform. The company shared data in connection with
the celebration of its fifth anniversary. Celebrating this milestone, it
introduces a new product to its offer.
The company
also reported being profitable in its 2023 financial year (ending 30 September
2023) and the 2023 calendar year.
Trade
Republic, a German brokerage company established in 2019, has its roots tracing
back to 2015 when it began as Neon Trading in a startup incubator. Its
significant growth occurred in the last five years, marking its evolution into a
Trade Republic. This transformation was fueled by a €60 million investment from
several venture capitalists.
Initially
available to a closed group of clients for commission-free trading in February
2019, the platform rapidly expanded to over 150,000 users within a year. This
impressive growth continued, driven by a $900 million funding round in 2021 and
a subsequent $250 million round in 2022, escalating its valuation to $5
billion.
“Over
the past 5 years Trade Republic has made investing easier, more transparent and
affordable than ever before for millions of Europeans,” Christian Hecker,
the Founder of Trade Republic, said.
During this
time, Trade Republic has emerged as one of the largest retail brokers in
Europe. Additionally, it recently obtained a full banking license from the
European Central Bank, further solidifying its position in the financial
sector.
Trade Republic Launches
New Visa Card
In addition
to the 4 million customers milestone, Trade Republic announced the launch of a
new Visa debit card that integrates spending and savings. The card offers a 1% “Saveback” reward on purchases that is invested back into the
cardholder’s Trade Republic savings plan. A round-up feature enables
cardholders to invest their spare change from purchases into any asset
available on Trade Republic’s platform.
The new
Visa card has no monthly fees and offers benefits like free ATM withdrawals
worldwide. Customers can choose between a paid classic or mirrored design card,
or a free virtual card.
“Every
act of spending is an act of savings. This empowers every individual,
regardless of income, to start their savings plan and begin building wealth,”
Hecker added.
The company
said the new card and its growing customer base further establish Trade
Republic as one of the leading financial platforms in Europe.
Three years ago, the broker made headlines when, similar to Robinhood, it banned its users from buying the then red-hot meme stocks of GameStop and AMC.
European
financial services company Trade Republic has announced it now has 4 million
customers across 17 countries who have invested approximately €35 billion
through Trade Republic’s platform. The company shared data in connection with
the celebration of its fifth anniversary. Celebrating this milestone, it
introduces a new product to its offer.
The company
also reported being profitable in its 2023 financial year (ending 30 September
2023) and the 2023 calendar year.
Trade
Republic, a German brokerage company established in 2019, has its roots tracing
back to 2015 when it began as Neon Trading in a startup incubator. Its
significant growth occurred in the last five years, marking its evolution into a
Trade Republic. This transformation was fueled by a €60 million investment from
several venture capitalists.
Initially
available to a closed group of clients for commission-free trading in February
2019, the platform rapidly expanded to over 150,000 users within a year. This
impressive growth continued, driven by a $900 million funding round in 2021 and
a subsequent $250 million round in 2022, escalating its valuation to $5
billion.
“Over
the past 5 years Trade Republic has made investing easier, more transparent and
affordable than ever before for millions of Europeans,” Christian Hecker,
the Founder of Trade Republic, said.
During this
time, Trade Republic has emerged as one of the largest retail brokers in
Europe. Additionally, it recently obtained a full banking license from the
European Central Bank, further solidifying its position in the financial
sector.
Trade Republic Launches
New Visa Card
In addition
to the 4 million customers milestone, Trade Republic announced the launch of a
new Visa debit card that integrates spending and savings. The card offers a 1% “Saveback” reward on purchases that is invested back into the
cardholder’s Trade Republic savings plan. A round-up feature enables
cardholders to invest their spare change from purchases into any asset
available on Trade Republic’s platform.
The new
Visa card has no monthly fees and offers benefits like free ATM withdrawals
worldwide. Customers can choose between a paid classic or mirrored design card,
or a free virtual card.
“Every
act of spending is an act of savings. This empowers every individual,
regardless of income, to start their savings plan and begin building wealth,”
Hecker added.
The company
said the new card and its growing customer base further establish Trade
Republic as one of the leading financial platforms in Europe.
Three years ago, the broker made headlines when, similar to Robinhood, it banned its users from buying the then red-hot meme stocks of GameStop and AMC.
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- Source: https://www.financemagnates.com//forex/trade-republic-skyrockets-to-4-million-customers-in-5-years/
