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UK challenger stockbroker Freetrade exceeds crowdfunding target yet again, raises €7.8M on Crowdcube

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UK challenger stockbroker Freetrade exceeds crowdfunding target yet again, raises €7.8M on Crowdcube

Based out of London, Freetrade is a challenger stockbroker that introduced mobile-first, commission-free investing to the UK and Europe. Recently, the UK firm has raised £7 million (approx €7.Eight million) from greater than 8,000 folks amid COVID-19 lockdown. 

Freetrade Founder and CEO Adam Dodds:

“We’d at all times deliberate on crowdfunding in 2020 and the meteoric progress we’ve seen this yr made us assume that was nonetheless the suitable factor to do.“Still, it’s been unbelievable to see so many individuals spend money on Freetrade regardless of the precarious scenario the world is in. I believe that claims quite a bit concerning the perception folks have in us to supply the most effective, most inexpensive, and accessible funding service available on the market.”

Exceeded £1 million in 4:33 minutes!

Working with Crowdcube, the corporate exceeded its £1 million (approx €1.1 million) goal in simply 4:33 minutes from present shareholders earlier than occurring to lift £7 million (approx €7.Eight million) in 5 days. It’s price mentioning that, Freetrade’s fundraise is the biggest fairness crowdfunding marketing campaign to be accomplished within the UK this yr.

Luke Lang, Co-founder of Crowdcube added: 

“Freetrade has confirmed the facility of its neighborhood to gasoline its progress as soon as once more. To defy the Covid-19 lockdown and lift £7 million from 8,559 persons are astonishing and a testomony to their imaginative and prescient, group, and product. Their record-breaking elevate, at a time of deep uncertainty, will undoubtedly present inspiration to fellow entrepreneurs throughout these difficult occasions.”

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Growth elevated 500%!

According to the corporate, the fund can be used to speed up Freetrade’s progress, which has elevated 500% prior to now yr to 150,000 clients, and the buying and selling volumes doubled via February and March when the monetary markets have been in turmoil. With over 70,000 new clients because the begin of the yr, Freetrade’s burgeoning neighborhood is on the coronary heart of its success.

Freetrade now has over 10,000 shareholders following six crowdfunding campaigns with Crowdcube, who’ve been pivotal within the firm’s progress to date.

One of the most recent members of London Stock Exchange!

Notably, the app permits folks to purchase shares like Amazon, Greggs, Tesla, Fevertree, and Apple and may use an ISA to speculate as much as £20,000/yr in a tax-efficient account. In 2019 they raised $15 million, together with Series A with VC Draper Esprit.

Started in 2016, by Adam Dodds, Andre Mohamed, Davide Fioranelli, Ian Fuller, Viktor Nebehaj, Freetrade is FCA-regulated, FSCS-secured, and one of many latest members of the London Stock Exchange (LSE). With over 150,000 clients and 60 staff, Freetrade is on a mission to allow folks to speculate and develop their financial savings by benefitting from the worldwide financial progress pushed by public firms. 

Main picture credit: Freetrade

Stay tuned to Silicon Canals for extra European expertise information

The submit UK challenger stockbroker Freetrade exceeds crowdfunding goal but once more, raises €7.8M on Crowdcube appeared first on Silicon Canals .

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