Trade Republic Skyrockets to 4 Million Customers in 5 Years

<p>The European
financial services company Trade Republic has announced it 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.</p><p>The company
also reported being profitable in its 2023 financial year (ending 30 September
2023) and the 2023 calendar year. </p><p>4 Million Clients in 5
Years</p><p>Trade
Republic, a <a href="https://www.financemagnates.com/tag/germany/" target="_blank" rel="follow">German brokerage company</a> established in 2019, has its roots tracing
back to 2015 when it began as Neon Trading in a <a href="https://www.financemagnates.com/terms/s/startup/">startup</a> incubator. Its
significant growth occurred in the last five years, marking its evolution into a
Trade Republic. This transformation was fueled by an investment of €60 million from
several venture capitalists. </p><p>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 <a href="https://www.financemagnates.com/terms/f/funding-round/">funding round</a> of $900 million in 2021 and
a subsequent round of $250 million in 2022, escalating its valuation to $5
billion.</p><p>"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.</p><p>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, solidifying its position in the financial
sector.</p><p>Trade Republic Launches
New Visa Card</p><p>In addition
to the milestone of 4 million customers, Trade Republic announced the launch of a
new Visa debit card that integrates spending and savings. The card offers a reward of 1%
"Saveback" 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.</p><p>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.</p><p>"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.</p><p>The company
said the new card and its growing customer base further establish Trade
Republic as one of the leading financial platforms in Europe.</p><p><a href="https://www.financemagnates.com/forex/brokers/german-retail-brokers-suffer-trading-outage-amid-gamestop-saga/" target="_blank" rel="follow">Three years ago</a>, the broker made headlines when, similar to Robinhood, it banned its users from buying the red-hot meme stocks of <a href="https://www.financemagnates.com/forex/brokers/interactive-brokers-robinhood-move-to-curb-gamestop-frenzy/" target="_blank" rel="follow">GameStop and AMC</a>.</p>

This article was written by Damian Chmiel at www.financemagnates.com.