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 Corona, 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.

According to the report, earnings grew by 250 percent. Apparently, this positive news for the company was the basis for a financing round that Trade Republic closed last year.

At the same time, according to the media report, Trade Republic is apparently spending a lot of money on marketing, acquisition and the like. The net loss for the year is said to be 35 million euros for the fiscal year. That goes at Trade Republic until September 30, 2021. Among other things, this would include "other administrative expenses", which amounted to about 94 million euros. These are said to be mainly expenses for marketing, rents, software services, and legal and consulting services. Expansions to France and Austria are also included, according to the report.

Trade Republic offers investments in savings plans, fractional shares and ETFs, as well as derivatives and cryptocurrencies. The technology company is supervised by the Bundesbank and BaFin. It has received money from the likes of VC investors Accel, Peter Thiel's 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.