Trade Republic grows enormously

The German neobroker has developed into one of the largest financial start-ups in the world in a very short space of time. A media report now shows the extreme growth the company has achieved.

The start-up Trade Republic, which was founded in Munich and is based in Düsseldorf with offices in Berlin and Düsseldorf, grew by around 3,600% between October 2019 and September 2020 alone. This was reported by the website Finance Forward referring to a recent annual report. The company earned 26.8 million euros from commissions in the same period. In the following financial year, income is likely to be significantly higher again.

The number of customers also appears to have grown significantly: An estimated 350,000 to 400,000 customers may have been added in the 2019/2020 financial year. At the same time, the company spent around 22.8 million euros on other administrative expenses, a large part of which was probably for marketing. The company is currently valued at 4.3 billion euros.

Trade Republic was founded in 2015 by philosopher Christian Hecker, physicist Thomas Pischke and computer scientist Marco Cancellieri. Securities or cryptocurrencies can be traded via app or browser. The transactions are processed via the LS Exchange in Düsseldorf, HSBC Trinkaus in Düsseldorf, Citibank in New York or Société Générale in Paris.