Trade Republic hits €754 million in revenue as profit jumps sevenfold. The savings-plan broker has turned into a money machine: Trade Republic generated revenue of €754 million in its 2024-25 fiscal year and increased its net profit nearly sevenfold, from €34.8 million to €232.6 million. That is according to the annual report for the fiscal year that ended in September 2025, which is being published in Germany's Federal Gazette and was reported by Handelsblatt. Commissions drive the profit. By far the largest share comes from commissions on securities trading. They rose to about €733 million, more than double the previous year's €316 million. Another €20.4 million came from other income, such as currency effects and the release of provisions. Trade Republic set aside only €4.4 million for legal risks, down from €18.1 million a year earlier. Since its market launch in 2019, the Berlin-based fintech has accumulated a balance sheet profit of about €86.2 million. Customer growth has been just as striking. At the end of 2025, Trade Republic had more than 10 million customers, twice as many as 18 months earlier, and about €150 billion in assets under management. In December 2025, investors including Founders Fund, GIC, Fidelity, Wellington and the Arnault family bought €1.2 billion worth of shares in a secondary transaction at a valuation of €12.5 billion. That makes Trade Republic Germany's most valuable fintech. Far ahead of N26, far behind Revolut. A comparison with its rivals shows which league Trade Republic now plays in. The Berlin neobank N26 reported gross income of €501.6 million for 2025 and turned its first annual profit, at €1.6 million. The British rival Revolut, by contrast, is in a different weight class: It increased its revenue to about $6 billion (about €5.3 billion) in 2025 and posted a pretax profit of $2.3 billion (about €2 billion), with 68.3 million retail customers. In Austria, where Trade Republic has operated a local bank branch since 2025, Scalable Capital is also stepping up and has just opened its own bank in Vienna. The end of P.F.O.F. Whether the numbers can keep growing like this is an open question. They date from before the E.U.-wide ban on payment for order flow, which took effect in July 2026. Under that model, brokers receive rebates from trading venues, and for years it was a key source of income for neobrokers. Trade Republic responded with best-price execution across 30 trading venues, and customers still pay €1 per trade. Interest rates are another factor: Falling key rates reduce income from customer deposits, part of which Trade Republic passes on to customers. Over the summer, the fintech also had to settle in court with the consumer protection agency of Baden-Württemberg, which considered its "Zinsen auf dein Cash" (interest on your cash) advertising misleading. Founders Dispatch Europe's Startup Scene, Twice a Week in Your Inbox. Deals, funding rounds and tech trends, curated by the Trending Topics newsroom. Free since 2015. Aus Datenschutz-Gründen ist dieser Inhalt ausgeblendet. Die Einbettung von externen Inhalten kann in den Datenschutz-Einstellungen aktiviert werden:

Bank branch in Vienna: Scalable Capital launches in Austria. The Munich-based fintech Scalable Capital is launching with its own bank branch in Vienna. Through the new location, the neobroker will in future automatically withhold capital gains tax for customers in Austria. The Munich-based bank Scalable Capital has been represented by a bank branch in Vienna as of today. According to the fintech, investors in Austria thus benefit from tax-simple automatic withholding of capital gains tax. The KESt is determined directly at source, withheld and forwarded to the tax office. A local team in Vienna is to strengthen the Austrian bank branch. "We are positioning ourselves at the forefront of this change" "We are also seeing massively growing demand in Austria for diversified, long-term wealth accumulation. With the opening of our bank branch and the start of tax simplicity, we are positioning ourselves at the forefront of this change," explains Florian Müllner, head of Scalable Capital's Austrian bank branch. Founded in 2014, more than 800 employees. Scalable Capital, founded in Munich twelve years ago, is now active alongside Bavaria's capital in Berlin, Vienna and Milan. The fintech started with the goal of "enabling access to the capital market through smart technologies, simple usability and low costs," as Scalable Capital puts it. In the meantime, more than one million customers have invested over 60 billion euros on the platform, and more than 800 people are employed. At the top are the two CEOs Florian Prucker and Erik Podzuweit, who are working on a "new generation of financial services." Agentic investing and future savings accounts. The Munich-based bank has offered agentic investing with all common AI assistants such as ChatGPT, Claude or Grok since the end of August this year. According to Scalable Capital, it has thus "opened its platform for all common AI assistants (...) as the first bank in Europe." Using the AI, customers can search not only for trading and setting price alerts but also for shares, derivatives and real-time prices. The AI chatbot "Insights" also offers answers on markets, strategies or how to use the broker. The future savings account planned by the Austrian federal government is supported by the fintech. Scalable Capital wants to bridge to capital-market-based private retirement provision from birth. "We welcome the federal government's initiative to introduce a future savings account. As soon as the legislator has created the necessary framework, Scalable Capital plans to offer future savings accounts," says Müllner. 17 hours ago kokei wants to acquire up to three SMEs annually and manage them long term. More and more Austrian companies face an unresolved succession question. Founded in 2025, kokei Nachfolge GmbH wants to offer a solution with a long-term investment model. The first acquisition has already been completed with an Upper Austrian transport company. More are to follow. Classic business succession within the family is becoming increasingly less important in Austria. A current study by Creditreform Österreich and CH Consult shows: 45 percent of the companies surveyed need a succession solution by 2030. Already 40 percent are planning a handover outside the family, for example through sale to investors or a management buyout. This is exactly where kokei Nachfolge GmbH, founded in 2025, comes in. A well-known face from the Austrian startup scene got the idea rolling: Daniel Horak, co-founder of the financing platform CONDA. Through conversations with companies, he became aware of the growing succession problem in Austrian SMEs. Together with Alexander Groll, Nima Derakhshan and Dirk Littig, this developed into today's business model. The Vienna-based company wants to acquire profitable Austrian SMEs and manage them long term. Unlike classic private equity firms, kokei does not rely on a profitable resale. First acquisition of a transport company. With Winkler F & S Transport GmbH from Hörsching, kokei has acquired its first stake. The transport company, focused on specialized piece and WAP freight, employs 55 people and has around 40 vehicles. "From our perspective, Winkler is simply a hidden champion in an attractive niche," says kokei co-founder and co-CEO Nima Derakhshan. The second-generation family business is already profitable and has further growth potential. Because the children of the previous owner, Felix Winkler, pursue other professional interests, the second-generation family business lacked an internal successor. Despite further purchase offers, Winkler deliberately chose kokei, explains Derakhshan. From concrete takeover talks to completion, a little more than a year passed. Digitalization and new management at Winkler. kokei co-CEO Alexander Groll has taken over operational management; Felix Winkler remains involved during a transition phase. Since the acquisition in spring 2026, kokei has already initiated changes at Winkler. These include a new transport management system, digitalized processes and a realignment of driver recruiting. Entry into e-mobility is also being prepared. In the long term, kokei wants to build central services for all holdings. Areas such as human resources, IT, marketing, controlling and legal are to be supported across companies in the future. This should allow the acquired companies to focus more strongly on their core business. kokei also pursues an operational approach in management. While Groll himself leads the first company, additional managing directors are to be appointed in the future. The team is already in contact with potential candidates for this. Suitable employees from the acquired companies are also eligible. The Vienna-based company wants to remain closely involved in operational development.