Freetrade, the app that’s on a mission to get everyone investing, raised over £1m from existing investors as its latest crowdfunding campaign opens to the public this morning.
This crowdfunding campaign comes on the back of a strong year, where Freetrade has shown that its business model is resilient with AUA growing to all time highs at the end of August 2022, and subscription penetration levels hitting 77% for customers with at least £10,000 invested.
Freetrade has been building significant momentum in 2022, building significant pieces of technical infrastructure as well as launching major improvements to their app. These include:
• Building a fully self-clearing European share dealing stack, that will allow Freetrade to scale its business efficiently across Europe.
• Building its own FX solution that allows Freetrade to go direct to foreign exchange markets and unlock significant savings.
• And a host of new features like a web app, advanced fundamentals and recurring orders.
Heading into the last quarter of 2022, Freetrade is positioned to continue delivering new features while pushing beyond Sweden and into the rest of Europe.
Adam Dodds, CEO and Founder of Freetrade, said: “Our team has shown remarkable grit and focus this year as we’ve continued to execute against our plans and build a sustainable business. As we add more customers, we are carving out a path towards building a business that is profitable and serves our customers’ best long term interest.”