Ex-Merrill Banker’s Broker App Boosts Valuation to $5.4 Billion

Berlin-based broker app Trade Republic Bank GmbH, co-founded by former Merrill Lynch banker Christian Hecker, raised about 250 million euros ($268 million) in its latest funding round, boosting its valuation despite difficult market conditions.

The round, led by Ontario Teachers’ Pension Plan Board, was an extension of an earlier one and raised the company’s valuation to 5 billion euros from 4.4 billion euros, Hecker told Bloomberg in an interview.

The new money comes as startups around the world have faced difficulty raising money as surging inflation and the war in Ukraine have dampened the economic outlook and ...