Trade Republic Hits €100B Milestone as User Base Doubles to 8M!
Hey FinTech Fanatic!
Trade Republic just hit a major milestone—crossing €100 billion in assets and doubling its user base to 8 million in just a year!
The Berlin-based broker is expanding fast, launching national branches and localized banking services in France, Spain, and Italy. France alone brought in over 1 million customers, thanks to commission-free savings plans for PEA accounts and new domestic current accounts with national IBANs.
Staying profitable through 2024, Trade Republic offers competitive 3% rates on deposits, matching the European Central Bank’s benchmark. Their international user base now makes up over a third of total customers, fueled by debit cards and current accounts driving growth.
Co-founder Christian Hecker put it best: "A new generation of savers is emerging across Europe, and many are starting with Trade Republic. Saving over €100 billion in six years shows the scale and future potential."
With this significant growth, Germany's second most valuable FinTech has drawn attention as a potential IPO candidate. However, the company has vowed to stay private, with Hecker downplaying the prospects of a public market debut in an interview with the FT.
In another update: The FinTech expert Jevgenijs Kazanins spotted something interesting – Revolut's web trading interface is now live!
Sergei Riabov, Head of Product at Revolut - Wealth & Trading confirmed in a comment: "Yes, we have made the web interface available to all customers. The standalone app is still in a pilot test phase in three EU countries, but all the features are also available in the main Revolut app".
Have a great start to the week and I'll be back with more FinTech industry updates tomorrow!
Cheers,
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