Freetrade To Double Its Valuation Following Its Latest Crowdfunding Move

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Top UK retail stockbroker Freetrade is raising money to fund its future expansion plans. The broker announced that it has started a new round of crowdfunding that will raise its valuation to £650 million.

Freetrade is offering new shares to investors at a price of 924.99p, which is a 138% surge in its share price at the last fundraising.

Freetrade Now Has Over $1 Billion In AUM

The latest fundraising move will be the 7th time in its history that Fretrade has called upon retail investors to raise working capital. However, it will be the first time the firm is leaving fundraising open to other European investors.

According to the group, the latest fundraising has enabled the company to hit a milestone of $1.0 billion in assets under management (AUM).

Freetrade was launched in 2016 and has expanded rapidly since then. It has completed Series A and B funding, as well as crowdfunding as a means of raising capital for expansion.

Molten Ventures and Lane Capital are some of the capital investors that participated in its previous funding.

Freetrade Now Has More Than 1 Million Registered Users

The past five years have been particularly eventful for Freetrade as it has expanded to over 1 million registered users on its platform. In the last 18 months, the firm said it recorded user growth of over 600%. bvbvChief Executive Officer of Freetrade, Adam Dodds, spoke about the company’s recent crowdfunding and expansion plans.

“This crowdfunding round represents a significant milestone for Freetrade,” he stated, adding that the company has completed six previous rounds and built a passionate community of shareholders.

Freetrade says it wants to keep the momentum and carry its community along as it expands into Europe. The latest funding round can be accessed through crowdcube and will be open for one week.

Freetrade Makes Executive Appointments

The latest crowdfunding round is coming after Freetrade expanded its operations to Sweden as it plans to increase its presence in Europe.

Along with its funding goals, Freetrade has also made moves to make executive appointments. In September, the broker appointed Paul Brookings as its Chief Financial Officer. He is coming into the company with over 16 years of experience in the industry and one year stint at Revolut.

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