Freetrade, a company that’s on a mission to get everyone investing, has secured 879% (£8,799,726) of its £1,000,000 fundraising target from 6926 investors (at the time of writing) via Crowdcube – with 1 day left in the Fintech firm’s crowdfunding campaign.
A UK Financial Conduct Authority (FCA)-regulated stockbroker, and member of the London Stock Exchange, Freetrade’s app notably won Best Online Trading Platform at the British Bank Awards every year from 2019 to 2021. After six previous rounds with 13,000 investors, “they’re back again.”
Freetrade reports 1.1m users, which is more than 600% since May 2020’s crowdfunding. The Fintech firm is reporting a £650,000,000 pre-money valuation, 1.34% Equity, £9.25 share price.
As noted by the firm’s management, they have achieved the following:
- £1bn in client assets
- £50m oversubscribed Series B in 2020 with world-class growth investors
- Rolling out EU stocks in anticipation for launch across Europe
Freetrade further noted that they’re an award-winning, commission-free investing app. Their goal has always been to get everyone investing.
According to the company:
“Investing is one of the best ways to grow your money over the long-term, but high commissions and clunky products have made it complicated for people to start and grow their investments. We have a simple, freemium pricing model, and have built the tech behind our award-winning app from the ground up.”
They added:
“The 18 months since our last crowdfunding has seen Freetrade become a mainstream provider of general investment accounts, stocks and shares ISAs, and self-invested personal pensions, with over 1.1m users and £1bn in client assets.”
Earlier this year, Freetrade secured £50 million in an oversubscribed Series B with growth investors such as Left Lane Capital, L Catterton, and Molten Ventures.
The company’s proprietary brokerage system, the Freetrade Cloud Platform (FCP), has supported this surge in clients while “keeping costs low.”
It’s the foundation they’ve used to “roll out new products and features like live pricing, instant bank transfers, and pensions.”
In the next few weeks, the company says it will “start rolling out access to European stocks.” As a part of this, they connected FCP to the European market infrastructure, which will “enable us to launch in Sweden and the rest of the EU.”
The company also mentioned that they are “raising with the aim of supercharging our growth, allowing us to grow engineering & marketing internationally.”
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