Cryptology Asset Group: Fintech Nextmarkets raises 25 million euros
Cologne, Germany — Trading app Nextmarkets has raised around €25 million ($30 million) in another financing (FinanceFwd reported). The round was led by publicly traded Cryptology Asset Group, Europe’s largest publicly traded crypto investment company, in which Christian Angermayer is a shareholder. According to the commercial register, the investment company Finlab AG has also invested again.
With the fresh capital, the Cologne-based company intends to grow further in a market that has so far been led primarily by the U.S. model Robinhood and its German counterpart Trade Republik.
Nextmarkets was founded in 2014 by the two brothers Manuel and Dominic Heyden. The startup first made a name for itself by having professional traders give investment tips via the app. Meanwhile, the startup has a securities trading bank license and offers about 7,000 stocks and 1,000 ETFs that can be traded via the app free of charge.
With stock market coaches, the Cologne-based company wants to stand out from the competition. Paypal co-founder Peter Thiel had already invested in Nextmarkets in 2016. The enterprise value is estimated at approximately 58 million euros ($70 million). For comparison: Robinhood is about to go public, Trade Republic is valued at around 600 million euros. For Nextmarkets is currently said to have about 40 employees.