Ontario Teachers’ joins Trade Republic on its mission to empower people to create wealth with €250m Series C extension
– €250M Series C extension led by the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), adding to 2021 Series C led by Sequoia
– Post-money valuation uplift to €5.0B recognizes Trade Republic’s strong performance in all markets, offering savings solutions to over 280m people across Europe
– The extension will be used to double down on product, building the most innovative services and technology to help people put their money to work
Berlin, June 03, 2022 – Trade Republic, Europe’s largest savings platform, today announces a €250M Series C extension. The round is led by Ontario Teachers’, one of the world’s largest pension funds and institutional investors, along with the participation of existing investors. The extension is based on a post-money valuation uplift to €5.0B (previously €4.4B), underlining Trade Republic's strong business performance and growth.
"With Ontario Teachers’, one of the leading global pension funds joins us on our mission to support people to participate in the long-term growth of the economy,” says Christian Hecker, Co-Founder of Trade Republic. “We are amid a transformation of pension systems in Europe. The financing will help us to invest strongly into product innovation to empower millions of Europeans to put their money to work. Improving our valuation in the light of the current market environment is a true testament to our progress in the last twelve months and the large potential ahead."
Ontario Teachers’ manages the assets of over 333,000 teachers in Ontario, Canada, with more than C$240B in net assets invested globally. This investment was made by the High Conviction Equities team, which provides flexible, partner-centric capital across the equity capital structure – focusing on companies that are public or on a growth trajectory to go public.
“We are passionate about organisations that are using technology to tackle some of the world’s most pressing challenges,” says Maggie Fanari, Managing Director and Global Group Head, High Conviction Equities, at Ontario Teachers'. “Through their savings platform, Trade Republic democratises access to financial markets for millions of Europeans, providing the tools for wealth accumulation and empowering them to have brighter financial futures.”
To change the financial system, Trade Republic has built a bank from scratch since 2015 with an easy-to-use product everybody can afford. The company has seen fast growth across continental Europe with innovative, secure and commission-free financial products and already approaches over 280m people in six European countries.
“The funding extension puts us in the best potential position to deliver on our mission within a changing market environment” adds Christian Hecker. “In recent years, we have successfully grown the company to multiple products in many countries. We will focus all our energy to build products our customers love and invest strongly into technology to run the most efficient banking platform.”
Ontario Teachers’ investment is an extension to last year’s Series C, which was led by Sequoia together with TCV, Thrive and the previous investors Accel, Creandum, Founders Fund and Project A. Last year’s Series C round was one of Europe's largest venture investments in financial services to date.
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ABOUT TRADE REPUBLIC
Trade Republic is on a mission to set millions of Europeans up for wealth creation with secure, easy and free access to capital markets. With over one million customers Trade Republic is already the home screen app for many Europeans to manage their wealth. It offers commission-free investing in equities and crypto as well as free ETF and fractional stock savings plans. Trade Republic is a technology company with a German banking license supervised by Bundesbank and BaFin. As Europe’s largest NeoBroker Trade Republic has received investments by Accel, Creandum, Founders Fund, Ontario Teachers‘, Project A, Sequoia, TCV, and Thrive Capital. The company based in Berlin was founded in 2015 by Christian Hecker, Thomas Pischke, and Marco Cancellieri.
ABOUT ONTARIO TEACHERS’
Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of C$241.6 billion as at December 31, 2021. We invest in more than 50 countries in everything from equities to real estate to infrastructure and venture growth, to deliver retirement income for 333,000 current and retired teachers in Ontario.
With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.7% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com.