Freetrade announces its seventh crowdfunding round

Freetrade, the award-winning and commission-free investing service based in the UK, has announced that the company will be doing another crowdfunding round, which would bring the total to seven.

The previous crowdfunding round from Freetrade occurred last year (2020). On day one the company managed to raise £5 million, with the first £1 million being raised in only four minutes.

Overall in the previous crowdfunding round the company raised a total of £7.1 million, from a total of 8,559 people who invested. In the 2020 round, Freetrade reported it had 150,000+ customers which was a 500% growth year-on-year. Since the last crowdfunding, the numbers for Freetrade have increased dramatically.

2021 Crowdfunding

Based on the information Freetrade have provided for the announcement of the latest 2021 crowdfunding round, some statistics from the company are:

• 1 million customers, up 600% in the last 18 months.
• Now over £1 billion in client assets.
• Freetrade now has 4 offices globally (these are in London, Stockholm, Brisbane and Vancouver).

Update (24/11/2021):

Adam Dodds, CEO of Freetrade revealed more information on a Twitter thread:

• Pre-month valuation is £650 million.
• This crowdfunding round is capped at €8 million in the UK and €8 million in the EEA, giving a total of €16 million or £13 million.
• Of the 1 million plus customers, 600,000 have a currently funded Freetrade account.
• Current Monthly Active Users is 500,000.
• 100,000 new customers with funded accounts joined Freetrade in October.
• The company had £12 million in revenue over the last 12 months.
• Current anual revenue run-rate is £24 million.
• The company is testing its EU trading infrastructure internally.

This crowdfunding round will begin on Wednesday the 24th of November 2021 and the opportunity to invest will be available from the following times:

• 10am For investors who invested in previous rounds.
• 11am For early signups.
• 12pm For everyone else.

It is possible to sign up for access to the ‘early signups’ time and also read more about this crowdfunding here.

Freetrade has crowdfunded every year since its first crowdfunding in 2016 and earlier this year Freetrade also confirmed its £50 million Series B raise.

Overall Freetrade has had an excellent year. The company has reached over 1 million customers and Freetrade is now also the second-largest retail broker on the London Stock Exchange by the number of orders every day.

This 2021 crowdfunding is open Europe-wide this time which does appear fitting since Freetrade is expected to launch European stocks in the coming months followed by a rollout of the service in some European countries.

If you would like to learn more about Freetrade you can read our review here.

Written By

Jake Bywater