Neobroker unicorn Trade Republic extends Series C by €250m

German neobroker Trade Republic has closed a €250m Series C extension round, which puts its valuation at €5bn (up from €4.4bn).

This fresh investment was led by Ontario Teachers’ Pension Plan, with commitments coming from other unnamed backers.

The original Series C round closed on $900m in May 2021. The round was backed by Sequoia with participation from TCV, Thrive Capital, Accel, Founders Fund, Creandum and Project A.

Founded in 2015, Trade Republic was built to help Europeans manage their wealth. It offers investments into equities, cryptos, EFTs and fractional stock savings plans.

Trade Republic co-founder Christian Hecker said, “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.”

Speaking on its investment, Maggie Fanari, managing director and global group head, high conviction equities at Ontario Teachers’, said, “We are passionate about organisations that are using technology to tackle some of the world’s most pressing challenges.

“Through their savings platform, Trade Republic democratises access to financial markets for millions of Europeans, providing the tools for wealth accumulation and empowering them to have brighter financial futures.”

Earlier in the year, fellow Germany FinTech company Moojo closed a $2m investment. The company helps freelancers and creators streamline their invoicing processes so they can be paid faster.

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