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.