German fintech Trade Republic has become the country’s most valuable startup after investors led by Peter Thiel’s Founders Fund agreed to a secondary share transaction valuing the company at about $14.7 billion. Early backers sold approximately 1.4 billion in shares to existing and new investors, including Wellington Management, Fidelity, and Singapore’s sovereign wealth fund GIC, along with the investment arms of the Arnault and Agnelli families.
Trade Republic, often compared to Robinhood for its low-fee brokerage model, was founded in 2015 and has raised more than $1.2 billion from investors. It now serves more than 10 million customers and has been profitable for three years. Christian Hecker, Co-Founder and CEO, said, “This transaction underlines that the cultural shift to retail investing in Europe is only starting.”
The deal underscores the growing role of secondary markets for late-stage startups amid a slow IPO environment. Rather than raising new capital, the share sale allowed early investors, including Accel, Sequoia, TCV, and Thrive, to cash out while attracting long-term backers. Trade Republic has held a full banking licence since 2023 and has expanded into savings accounts, private market investments, and crypto wallets across Europe. Analysts note that the valuation reflects rising retail investing and government efforts to promote private savings, supporting the company’s continued growth.
