Total amount raised
$160 Millions
Latest funding date
Location
Freetrade has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The platform offers commission-free stock trading and investment options, making it accessible to a wide range of users.
Keep reading to explore the intricacies of Freetrade's fundraising journey and the investors backing this innovative platform.
What Is Freetrade?
Freetrade, founded in 2016, is a commission-free stock trading and investment platform based in London, England. The company was established by Adam Dodds, Viktor Nebehaj, and Davide Fioranelli.
Freetrade offers a variety of investment accounts, including ISAs, SIPPs, and GIAs, allowing users to trade stocks and ETFs without paying commissions. The platform is designed to be user-friendly, catering to both novice and experienced investors.
With a growing team, Freetrade has expanded its services to over 1.6 million users, providing tools for automated investing and portfolio management. The company continues to innovate in the financial technology space.
How Much Funding Has Freetrade Raised?
- Equity Crowdfunding
- Amount Raised: £3.5M
- Date: July 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand user base and enhance platform features.
- Equity Crowdfunding
- Amount Raised: $1.9M
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and market expansion.
- Equity Crowdfunding
- Amount Raised: £3.8M
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve user experience.
- Series A
- Amount Raised: £12M
- Date: October 2019
- Lead Investors: Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Equity Crowdfunding
- Amount Raised: £7.1M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and user acquisition.
- Series B
- Amount Raised: $69M
- Date: March 2021
- Lead Investors: Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and develop new features.
- Equity Crowdfunding
- Amount Raised: £8.4M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support European expansion and product innovation.
- Debt Financing
- Amount Raised: £30M
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position and fuel growth.
- Convertible Note
- Amount Raised: £2.1M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital and support expansion.
- Equity Crowdfunding
- Amount Raised: £2.3M
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: £225M
- Motivation Behind the Round: To boost UK customer growth, expand in Europe, and launch new products.
Total Amount Raised: $139.5M. Current Valuation: £225M.
Key Investors
- Left Lane Capital
- Details: Left Lane Capital is a venture capital firm based in New York. They focus on investing in high-growth internet and consumer technology companies.
- Investment Focus Areas: Consumer technology, internet, software.
- Notable Investments: GoStudent, MasterClass, M1 Finance.
- Molten Ventures
- Details: Molten Ventures, formerly known as Draper Esprit, is a leading venture capital firm in Europe. They invest in high-growth technology companies across various stages.
- Investment Focus Areas: Fintech, enterprise software, digital health.
- Notable Investments: Trustpilot, Revolut, UiPath.
What's Next for Freetrade?
Freetrade is poised to capitalize on several significant opportunities, including doubling its UK customer base and expanding into Europe. With over 1.4 million registered users and £1.4 billion in assets, the potential for growth is substantial. The company plans to introduce new features like mutual funds and tax reporting, which could attract high-quality customers and enhance user experience.
Future fundraising efforts are likely, given the recent success of their crowdfunding round, which raised £2.3M, far exceeding the target. This financial boost will support their ambitious plans for expansion and product development. However, Freetrade may face challenges such as difficult market conditions and regulatory hurdles in new markets.
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