Finance

European Robinhood rival Trade Republic raises $900 million of funding

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The Trade Republic app.

Trade Republic

LONDON — German stock-trading app Trade Republic said Thursday it raised $900 million in a huge funding round that values the start-up at $5.3 billion.

The round, a Series C, was led by American venture capital firm Sequoia, with additional backing from new investors TCV and Thrive Capital. Existing shareholders include Accel, Founders Fund and Creandum increased their holdings.

Trade Republic is essentially Europe’s answer to Robinhood. The app lets users trade in stocks and exchange-traded funds without paying a commission. Trade Republic makes money from a flat 1 euro  ($1.22) fee it charges per trade.

Earlier this year, Trade Republic added a…



Source cnbc.com

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