Germany-based savings platform Trade Republic has announced allowing its customers to buy a fraction of a share or trade an ETF with any EUR amount.
This allows investors broader portfolio diversification and access to all assets. With the purchase of fractional shares, real shares are transferred to the investor at Trade Republic. According to a Trade Republic representative, the introduction of fractional shares and ETFs advances the democratisation of wealth accumulation for users. New features
Trade Republic's aim is to make private wealth accumulation and retirement planning easier with secure access to the capital markets. The company offers investing in stocks and cryptocurrencies, as well as ETF and stock savings plans. Trade Republic is a technology company overseen by the Bundesbank and BaFin.
Previous Trade Republic financing rounds
In the past, the savings platform has raised growth capital from VC investors including Accel, Creandum, Founders Fund, Ontario Teachers', Project A, Sequoia, TCV and Thrive Capital. Trade Republic last financing round was in June of 2022, in which the company raised EUR 250 million. The brokerage app completed a Series C financing round in May 2021, in which they received almost EUR 740 million, including investments from venture capitalists Sequoia and TCV.
Other developments from Trade Republic
In April 2022, Trade Republic announced cooperating with Deutsche Bank and Citibank. The two then became Trustee account partners of Trade Republic, meaning that new customers and some existing customers will no longer be looked after by Solarisbank, which was previously the only banking partner with whom all custody accounts were held. Both Citi and Deutsche Bank are now subject to the EU directive on statutory deposit guarantee systems. According to a Deutsche Bank representative, they provide Trade Republic with their scalable transaction services and enable processing on the Trade Republic platform.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now