Commission-free stockbroking app Freetrade is to embark on its seventh crowdfunding round just seven months after raising a Series B round of $69 million.
The return to the crowd comes within a week of Freetrade reaching £1 billion in Assets under Administration (AUA), helped by the launch of new subscription accounts, including ISAs, Freetrade’s Plus membership and the Freetrade Pension.
In October Freetrade hit another milestone, signing up one million registered UK users, having grown by roughly 400% in 2021. Long-term growth indicators remain strong, with October 2021 being a record for new funded customers, adding 115,000 new customers in the month, c. 50% more than in January 2021.
Crowdfunding has fuelled Freetrade’s growth and it has given the company a dedicated community of over 13,000 investors, who have been able to invest alongside growth investors including Left Lane Capital, L Catterton, and Molten Ventures.
The new crowdfunding round opens on Crowdcube on 24 November and will be available to European investors.
Adam Dodds, CEO and founder of Freetrade, says: “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.”