Navigating 2023: A Year in Review at StockRepublic
To the StockRepublic Community,
As we reflect on the past year, I am thrilled to share some exciting news and achievements that have defined our journey. Despite the challenges faced by many in the industry, StockRepublic has not only weathered the storm, but also emerged stronger than ever.
Business Wins:
Funding Success: In a year where venture capital faced headwinds, we defied the odds by oversubscribing our funding round, securing a robust €2.7M Euros for expansion and growth. This milestone positions us for even greater success in the future.
Team Expansion: While others experienced layoffs, we expanded our team, welcoming six talented individuals across various departments (sales, marketing, growth, product, engineering). Their combined expertise and passion will undoubtedly contribute to our continued success. Plus, we’re still looking for a Backend Engineer…
Global Presence: Our attendance at Finovate Europe in London and FinTech Triple in Berlin allowed us to connect with industry leaders and showcase our commitment to banking innovation on a global stage.
Growing Revenues: We are pleased to report we grew revenue +100% YoY from leading actors in Germany, the UK, Sweden, and beyond. This achievement underscores the trust our customers place in our solutions.
Product Wins:
Customer Results: Our social trading products continue to help grow our customers’ businesses. We’re proud of our ability to activate passive users and increase trades per user. For one customer, we increased trades for the average investor by +20%!
Innovative Features: Our release of Widgets and Buy & Sell Trends demonstrates our dedication to providing cutting-edge tools for our users. Plus, we even transformed the design of our website to make sure everyone can understand the value-add of our products.
Accolades: We're proud to announce that our hi!stocks app (built for our client, comdirect) was honored as Germany's Best Finance Product of 2023, a testament to the excellence and innovation embedded in our products.
Looking Ahead to 2024:
- Customer Growth: Our focus in the coming year is on launching more customers and providing the best social trading experience in the world. We’re excited to continue enhancing our product offerings to better serve our customers across markets.
- Product Development: We're committed to continuous improvement, with plans to expand the API side of our business, ensuring our solutions remain at the forefront of industry standards.
- Empowering Investors: As we move forward, StockRepublic remains dedicated to not only boosting the bottom line of our clients, but also helping everyday investors achieve higher returns.
We are grateful for the unwavering support of our community and excited for what the future holds. Here's to a prosperous and successful 2024!
Happy holidays & best regards,
Fabian Grapengiesser, CEO and Co-Founder of StockRepublic
