Trade Republic Revenue, Valuation, Funding & Investors

Trade Republic is valued at $14B as of December 2025, a 38.9x revenue multiple. Trade Republic revenue was $370M, as disclosed with its latest round.

Last Trade Republic valuation

$14B

Secondary · Dec 2025

Last Trade Republic funding round

$262M

Series C · Jun 2022

Trade Republic revenue

$370M

Secondary · Dec 2025

Key investors in Trade Republic

  • Accel
  • Founders Fund
  • Creandum
  • Project A Ventures
  • Sequoia Capital
  • Thrive Capital

Trade Republic Overview

About Trade Republic

Trade Republic is a Berlin-headquartered mobile brokerage offering commission-free trading in stocks, ETFs, and derivatives. Launched in 2015, the app serves European retail investors with instant order execution and savings plans. It invests client cash in money market funds and supports fractional shares. Regulated by BaFin, it expands across Germany, France, and Spain.


Founded

2015

HQ

GermanyBerlin

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$370M (Dec 2025)

Valuation

$14B (Dec 2025)

Trade Republic Valuation

Trade Republic is currently valued at $14B, based on its secondary sale in December 2025. Read the announcement ↗

The $1.4B round was led by Accel, Founders Fund, Sequoia Capital, TCV and Thrive Capital, with participation from Lingotto, Wellington Management, Fidelity, GIC, Khosla Ventures and 1 other investor.

Trade Republic's valuation has grown 2.9x from $5B at its Series C in May 2021 to $14B in December 2025, across 3 priced rounds.

Trade Republic valuation by funding round

Revenue multiple
Trade Republic valuation by funding round
DateStageValuationRevenue Multiple
Dec 2025Secondary$14B38.9x
Jun 2022Series C$5.8B55.8x
May 2021Series C$5B-

Trade Republic Revenue

Trade Republic's latest recorded revenue is $370M, as of its secondary sale in December 2025. At a $14B valuation, that implies a 38.9x revenue multiple.

Revenue grew from $103M in June 2022 to $370M in December 2025, while the revenue multiple moved from 55.8x to 38.9x.

Trade Republic revenue by funding round

Trade Republic revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Dec 2025$370M$14B38.9xSecondary
Jun 2022$103M$5.8B55.8xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Trade Republic Funding History

Trade Republic has raised a total of $1.3B across 5 funding rounds, plus 1 secondary share sale.

Trade Republic's first fundraising round was a $3M seed round in January 2017. The most recent completed round was a $262M Series C in June 2022.

Trade Republic funding rounds

Trade Republic funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2025SecondaryAccel (lead); Founders Fund (lead); Sequoia Capital (lead); TCV (lead); Thrive Capital (lead); Lingotto; Wellington Management; Fidelity; GIC; Khosla Ventures; Aglaé Ventures$1.4B$14BTrade Republic is a Berlin-based digital investment platform enabling European customers to invest in stocks, ETFs, cryptocurrencies, and private markets, with savings accounts following its full banking license from the European Central Bank in December 2023. In December 2025, the company completed a €1.2 billion secondary share sale valuing it at €12.5 billion, more than doubling its prior €5 billion valuation from a June 2022 Series C extension. The transaction provided liquidity to early shareholders without raising new primary capital for the company, which has amassed over €1 billion in primary funding historically. Existing investors including lead participants Founders Fund, Sequoia Capital, Accel, TCV, and Thrive Capital drove the secondary round, joined by new backers Wellington Management, GIC, Fidelity Management & Research Company, Khosla Ventures, Lingotto Innovation, and Aglaé Ventures. Trade Republic reported profitability for the third consecutive year at the time, supporting its long-term growth to become Europe's leading digital banking and savings platform. The deal occurred on December 17, 2025, propelling the firm to decacorn status. Trade Republic has expanded geographically in 2025 to localize its platform in France, Italy, Spain, the Netherlands, and Austria, while adding child savings accounts, fixed income, private markets, and a crypto wallet. It grew its customer base to over 10 million users managing €150 billion in assets, with 70% of customers being first-time investors.
Jun 2022Series COntario Teachers' Pension Plan (lead)$262M$5.8BTrade Republic, Europe's largest savings platform founded in 2015 by Christian Hecker, Marco Cancellieri, and Thomas Pischke, provides a technology-driven platform to help users invest in financial markets, democratizing access to wealth accumulation tools across Germany, France, and Austria. The company rapidly acquired over one million customers in its first 24 months of operation in these markets. On June 3, 2022, Trade Republic announced a €250 million Series C extension round led by Ontario Teachers’ Pension Plan Board, one of the world's largest pension funds, with participation from existing investors including Sequoia, TCV, Thrive, Accel, Creandum, Founders Fund, and Project A. This extension built on the prior 2021 Series C of $900 million, marking one of Europe's largest venture investments in financial services at the time. The round was based on a post-money valuation uplift to €5.0 billion from the previous €4.4 billion, highlighting the company's strong business performance and growth amid a challenging market environment. The additional capital was earmarked for product development and innovation to empower millions of Europeans in transforming pension systems and participating in long-term economic growth. Ontario Teachers', with expertise across industries from agriculture to artificial intelligence and offices globally, joined to support Trade Republic's mission. The investment underscored the platform's potential in wealthtech, positioning it as a key player in Europe's evolving financial services landscape.
May 2021Series CSequoia Capital (lead); Creandum; TCV; Project A Ventures; Founders Fund; H14; Thrive Capital; Accel$900M$5BTrade Republic, a Berlin-based mobile-only commission-free brokerage platform, raised $900 million in its Series C funding round on May 21, 2021, led by Sequoia Capital with participation from Accel, TCV, Founders Fund, Creandum, H14, Project A Ventures, and Thrive Capital. The round valued the company at over $5 billion, with one source specifying approximately $5.3 billion, marking it as one of Europe's most valuable fintechs at the time behind players like Klarna and Checkout.com. The funding supported European expansion and development of products for long-term investing and savings. Total funding raised by Trade Republic reached $1.3 billion cumulatively. Trade Republic generates revenue through payment for order flow, modest transaction charges on deposits, and interest on customer cash balances, with customer deposits protected up to €100,000 via partners like Deutsche Bank and J.P. Morgan.
Apr 2020Series BAccel (lead); Founders Fund (lead); Creandum; Project A Ventures; #Angels$75M-In April 2020, Trade Republic secured €62 million (approximately $75 million) in a Series B funding round co-led by Accel and Founders Fund, with participation from Creandum, Project A Ventures, and #Angels. The Berlin-based digital investment platform used these proceeds to scale operations, expand its footprint across Europe, and enhance its mobile infrastructure for commission-free stock, ETF, and derivative trading. This strategic injection served as a vital stepping stone for the company's rapid growth before later securing multi-million and billion-euro mega-rounds.
Jul 2019Series ACreandum (lead); Project A Ventures (lead); Discovery Ventures$12M-Trade Republic was founded in 2019 as a commission-free mobile brokerage platform enabling retail investors in Europe to access capital markets with low-cost investing in stocks, ETFs, and cryptocurrencies. In July 2019, the company raised $12 million in early-stage funding from Creandum and Project A Ventures to launch and scale operations. The company later secured a $900 million Series C round in May 2021 led by Sequoia at a $5 billion valuation, followed by a €250 million extension in June 2022, before achieving a €12.5 billion valuation in a secondary transaction in January 2026. By 2026, Trade Republic had grown to serve over 10 million customers managing approximately €150 billion in assets across multiple European markets, with the platform generating profitable growth for three consecutive years.
Jan 2017SeedSino (lead)$3M-In 2017 the Düsseldorf-based online brokerage sino AG became the first institutional investor in Trade Republic, then an early-stage Berlin fintech founded in 2015 by Christian Hecker, Thomas Pischke and Marco Cancellieri under the name Neon Trading. sino AG invested a low single-digit million euro amount and acquired a majority stake, with its chief executive Ingo Hillen initially serving as a managing director of Trade Republic Bank GmbH while the company obtained its securities-trading bank licence and built its commission-free mobile brokerage platform, which launched publicly in Germany in early 2019. The exact amount was not disclosed at the time and later reports differ. sino AG subsequently reduced its holding to below a majority ahead of the July 2019 Series A led by Creandum and Project A, selling part of its stake in that round and again in the 2020 Series B, but remained one of the largest shareholders. Trade Republic went on to raise a $900 million Series C led by Sequoia in 2021, a €250 million extension led by Ontario Teachers' Pension Plan in 2022, and in December 2025 was valued at €12.5 billion in a €1.2 billion secondary share sale.

Who has invested in Trade Republic?

18 investors have backed Trade Republic across its funding rounds, including Accel, Founders Fund, Creandum, Project A Ventures, Sequoia Capital and Thrive Capital.

Lead investors include Accel, Founders Fund, Sequoia Capital, TCV, Thrive Capital and 4 other investors.


Trade Republic Investors

Investors in Trade Republic by funding rounds participated
InvestorHQRoundsRoleFirst check
CreandumSwedenStockholm3LeadJul 2019
Project A VenturesGermanyBerlin3LeadJul 2019
Founders FundUnited StatesSan Francisco, CA3LeadApr 2020
AccelUnited StatesPalo Alto, CA3LeadApr 2020
TCVUnited StatesSan Francisco, CA2LeadMay 2021
Sequoia CapitalUnited StatesSan Francisco, CA2LeadMay 2021
Thrive CapitalUnited StatesNew York City, NY2LeadMay 2021
LingottoUnited KingdomLondon1ParticipantDec 2025
Wellington ManagementUnited StatesBoston, MA1ParticipantDec 2025
FidelityUnited StatesBoston, MA1ParticipantDec 2025
Ontario Teachers' Pension PlanCanadaToronto1LeadJun 2022
SinoGermanyDüsseldorf1LeadJan 2017
GICSingaporeSingapore1ParticipantDec 2025

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Investments by Trade Republic

Trade Republic has invested in 1 company to date.

Latest investment by Trade Republic was on February 27th 2024. Trade Republic invested in Embat in their $16M Series A round.


Latest Investments by Trade Republic

Embat
Description
Embat is a Madrid-headquartered treasury management platform serving mid-sized and large enterprises across Europe. The service provides real-time cash visibility, automated bank reconciliations, and AI-driven analysis through its TellMe tool, which detects anomalies and forecasts cash flows. Operating in Spain, Germany, and the United Kingdom since 2021, it centralizes payments, liquidity tracking, and forecasting to reduce manual finance tasks by up to 75 percent.
HQ CountrySpain
HQ City
Madrid
Deal Date27 Feb 2024
RoundSeries A
Raised$16M
InvestorsHugo Arévalo; 4Founders Capital; VentureFriends; Samaipata; Creandum; Kilian Thalhammer; iZettle; Martin Blessing
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Trade Republic Competitors

Trade Republic competitors include listed companies like Paytm, Jio Financial Services, Futu Holdings and Rakuten Bank, and private ones like Lunar and KuCoin.

Public and private companies comparable to Trade Republic
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PaytmIndiaIndiaPublicly listed$861M$41M$11B10.6x
LunarDenmarkAarhusPrivate--$2B-
Jio Financial ServicesIndiaIndiaPublicly listed$335M$274M$15B32.1x
Futu HoldingsHong KongHong KongPublicly listed$2.9B$1.8B$14B4.4x
Rakuten BankJapanJapanPublicly listed$1.1B-$15B10.6x
KuCoinSeychellesVictoriaPrivate--$10B-

Trade Republic Public Comps

Trade Republic is still privately-owned, but its public comps include Jio Financial Services, Futu Holdings, Rakuten Bank, Groww, Kaspi.kz, Paytm, Chime, Wise, Enpara Bank and PayPay.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Jio Financial Services$335M$274M44.0x32.1x53.7x-
Futu Holdings$2.9B$1.8B4.9x4.4x8.0x8.6x
Rakuten Bank$1.1B-14.4x10.6x--
Groww$449M$255M25.7x19.4x45.2x31.3x
Kaspi.kz$8.9B$3.1B1.9x1.9x5.6x4.9x
Paytm$861M$41M12.8x10.6x267.7x101.4x
Chime$2.2B($979M)4.8x4.0x(10.8x)24.8x
Wise$2.7B$631M3.8x3.7x16.3x14.4x

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Common questions about Trade Republic

When was Trade Republic founded?Trade Republic was founded in 2015.
Where is Trade Republic headquartered?Trade Republic is headquartered in Berlin, Germany.
Is Trade Republic publicly listed?No, Trade Republic is a private, VC-backed company.
What is Trade Republic's valuation?Trade Republic was last valued at $14B in its secondary sale in December 2025.
How much funding has Trade Republic raised?Trade Republic has raised $1.3B across 5 funding rounds.
What was Trade Republic's last funding round?Trade Republic's last funding round was a $262M Series C in June 2022, led by Ontario Teachers' Pension Plan.
Who are Trade Republic's investors?Trade Republic's investors include Creandum, Project A Ventures, Founders Fund, Accel, TCV, Sequoia Capital, Thrive Capital, Lingotto, Wellington Management, Fidelity and 8 others.
What is Trade Republic's revenue?Trade Republic's latest recorded revenue is $370M (December 2025).
What is Trade Republic's revenue multiple?Trade Republic's latest valuation implies a 38.9x revenue multiple ($14B valuation on $370M of revenue).
Which companies are comparable to Trade Republic?Companies comparable to Trade Republic include Paytm, Lunar, Jio Financial Services, Futu Holdings, Rakuten Bank and KuCoin.
How many companies has Trade Republic invested in?Trade Republic has invested in 1 company, including Embat.
What was Trade Republic's last investment?In February 2024, Trade Republic invested in Embat's $16M Series A alongside Hugo Arévalo, 4Founders Capital, VentureFriends and 5 other investors.

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