Trade Republic increases commission income by 250 percent

At the same time, however, the platform posted a net loss for the year of 35 million euros.

During coronavirus, many people started trading shares. This is now apparently reflected in the figures of an online broker: Trade Republic increased its commission income to a total of 94 million euros in the 2020/2021 financial year, according to the internet platform Finance Forward reports.

Income has therefore grown by 250 percent. Apparently, this positive news for the company was the basis for a financing round that Trade Republic completed last year.

At the same time, Trade Republic apparently spends a lot of money on marketing, acquisition and the like, according to the media report. The net loss for the financial year was 35 million euros. This includes "other administrative expenses", which amounted to around 94 million euros for Trade Republic until September 30, 2021. These are primarily expenses for marketing, rent, software services and legal and consulting services. Expansions into France and Austria are also included.

Trade Republic offers investments in savings plans, fractions of shares and ETFs as well as derivatives and cryptocurrencies. The technology company is supervised by the Bundesbank and BaFin. It has received funding from VC investors such as Accel, Peter Thiels Founders Fund, Ontario Teachers, Sequoia and TCV Growth Capital. The Berlin-based company was founded in 2015 by Christian Hecker, Thomas Pischke and Marco Cancellieri.