Freetrade, one of the largest commission-free trading platforms in the UK, has announced that it would be launching its seventh crowdfunding campaign on Nov 24 as part of its efforts to increase the awareness of its platform and also give a chance to retail investors to own a share of the fast-growing startup.
This follows on the heels of its $69 million fundraise in its Series B funding round just a few months earlier and this latest crowdfunding round is expected to increase the branding of the platform and bring in additional investors as well. It has over 1 million customers within the UK alone and its funded accounts have also shown a significant rise since the beginning of the year which shows that the people are very happy with the platform and its growth trajectory is expected to continue in the coming months. Commission-free trading in the stock market is the latest fad around the world and many platforms like Robinhood in the US has been able to acquire a huge number of customers by following this strategy.
Adam Dodds, CEO, and founder of Freetrade said: “In a world awash with venture capital, it’s important to offer everyone the opportunity to invest in companies, like Freetrade, at the earliest stages and throughout their growth. As we’re about to expand into Europe, it only makes sense that we should open up this round to prospective customers and investors across the continent. Crowdfunding has given us a passionate community of shareholders who help to keep us focused on our mission to get everyone investing.”
The platform now has a community of over 13,000 investors, big and small and they have been able to invest along with institutional investors like Left Lane Capital, Molten Ventures, and others. The platform has also introduced new subscription-based accounts like Plus Membership and Freetrade Pension which has increased its assets under Administration to over 1 billion pounds in October. All these provide a value proposition to the investors which is why it has been able to go on several crowdfunding rounds which not only increases the buzz around the platform but also helps to bring in much-needed funds for the company for its growth and expansion.