StockRepublic raises new capital and forms partnership with Germany's second-largest bank
The Swedish fintech company StockRepublic is raising new capital to accelerate its growth journey and expand the launch of the social trading platform for banks and partners globally. StockRepublic now receives 2 million EUR, and Commerzbank Group's early-stage investor enters as the lead investor.
The investment round is led by the Swedish venture capital fund Uequity and Commerzbank Group's early-stage investor main incubator, together with well-known business angels with a background from, among others, E-Trade, Yubico, and Minna Technologies. In total, 2 million EUR is invested.
– Being able to follow other interesting investors, see how climate-friendly their portfolios are, and compare their own portfolios with others is exactly what the new generation of investors is asking for. In addition, they find the guidance needed in order to make well-grounded investment decisions. We are happy to support this paradigm shift through our investment, says Sebastian Scheib, investment manager at main incubator.
The future is accessible and transparent
Björn Andersen, Head of Brokerage at Commerzbank's comdirect, adds:
– At comdirect, we strongly believe in StockRepublic’s vision of connecting retail trading with social features. It’s an expression of the current zeitgeist among young traders and demonstrates that social trading is going mainstream. Together with StockRepublic, we plan to make stock- and retail trading more accessible, social, and transparent, says Björn.
To accelerate this transition and launch StockRepublic widely to the new generation of investors, StockRebublic is currently conducting a proof of concept together with comdirect, which has just under three million customers. This proof of concept will give customers access to all social trading functions, mobile applications, web, and desktop.
Democratize savings
With its B2B platform, StockRepublic targets banks and other financial players with the ambition of democratizing savings. With the help of real-time investment data, StockRepublic can offer unique access to data that, traditionally, savers are excluded from and get inspiration from star savers from several countries. The platform meets the needs of the new generation of investors, as well as the needs of banks that want to increase the commitment among their customers. StockRepublic can be easily implemented and linked to banks' and brokers' existing financial products.
There’s a reason that more investors today seek ways to generate positive environmental impact alongside a financial return. StockRepublic wants to address this by highlighting how climate-friendly their users' investments are and by providing concrete proposals on how to improve their CO2 impact right away. – Our vision is to gather all information in one place and contribute to more sustainable savings. This investment will help us continue the launch of our platform within banks and partners in several European countries, says Hanna Bjurström, Chairman of the Board of StockRepublic.
For further information, please contact:
Fabian Grapengiesser, founder and CEO
Phone: +46-709 19 90 32
E-mail: fabian@stockrepublic.io
About StockRepublic
StockRepublic opens the vault to customer knowledge, engagement, and data. We provide a social network for investors that is easy to connect and fast to launch. By connecting anonymized portfolios in real-time, we open up for sharing knowledge, benchmarks, and best practice for better investments. StockRepublic provides a mobile-first solution, including APIs and client applications.
