Germany’s Scalable Capital secures $65m in Series E extension

December 10, 2023

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Banking License Secured:
- Trade Republic has obtained a full EU banking license from the European Central Bank (ECB).
Expanded Services:
- The Berlin-based platform, self-described as “Europe’s largest savings platform,” can now offer essential banking services like deposits and lending across the continent.
Product Diversification:
- Trade Republic, founded in 2015, plans to expand its product offerings beyond trading and investing, including bonds, derivatives, and crypto.
Wide Customer Base:
- With over two million customers across 17 European markets, Trade Republic has a substantial user base.
Strategic Focus:
- Despite the banking license, the company’s primary focus remains on the easy, secure, and affordable accumulation of wealth for its customers.
Corporate Governance Enhancement:
- Trade Republic intends to strengthen its corporate governance by establishing an “experienced audit committee” alongside obtaining the new banking license.
Financial Developments:
- In June 2022, Trade Republic raised €250 million in a Series C extension, reaching a post-money valuation of €5 billion, following a significant $900 million raised in the previous year’s initial Series C round.