Podcast
A new generation of investors is pouring into the capital market – and the online broker Trade Republic is one of the beneficiaries: Co-founder Christian Hecker talks about the risk of the pension gap and his ambition to make private provision more popular.
Online brokers are often under general suspicion: Is this not just about gambling, about getting a quick deal, about playing with securities? The Berlin company Trade Republic, which claims to have more than a million customers by now, wants its platform to be understood as a long-term offer instead. “Our mission is to get millions of people to put money to work for them”says co-founder Christian Hecker “. The aim is that “Savings platform for millions of Europeans” to become.
Far too often, the Germans in particular leave their money in their accounts with no chance of growth and thus become victims of interest rate developments. “Negative interest is a burning fire”said Hecker. It is about finding an answer to the looming pension gap, a task for which Hecker also sees the future federal government as responsible: “In America, in Asia, massive amounts of value and wealth are being created. And we in Germany miss it a little, because people simply cannot participate in the capital market.” In other countries there are high tax allowances for savers, a concept that is also conceivable for Germany.
At least Hecker’s own company cannot complain about too little money for the future at the moment. Donors such as the Californian venture capital company Sequoia have already invested 750 million euros in Trade Republic, and rapid expansion in Europe is firmly planned. The platform should be active in all countries in the euro zone by the end of next year. With a valuation of more than five billion dollars, the fintech company has reached dizzying heights.
Part of the money is to flow primarily into new staff in order to implement the expansion. Trade Republic already has 500 employees and the number is set to grow many more. “I spend a third of my time just hiring”said Hecker.
Also, listen in
- Why Christian Hecker doesn’t want to be Luisa Neubauer
- What he talks about with his financier Peter Thiel
- What Hecker thinks about cryptocurrencies
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Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
