German fintech looking to do business with Poles
Trade Republic is trying to expand in Poland by offering some of the highest deposit rates on the market and encouraging customers to start investing. Although the fintech has more than 10 mln users across Europe, including millions in Germany, Spain, and Italy, it currently has only tens of thousands of clients in Poland.
The company is promoting a 6% interest rate on cash balances, 1% cashback on card payments, and investing from as little as PLN 1. Its strategy is to gradually move savers into ETFs and stock investments through automated investment plans. Executives say many people fear financial markets and need guidance to start investing.
Analysts warn that building trust in Poland will be difficult without traditional banking services such as loans or everyday accounts. Trade Republic is responding by expanding customer support and hiring more staff, arguing that strong service and low fees will drive long-term growth more effectively than expensive marketing campaigns.
(pb.pl)
