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Our mission to get everyone investing has received a strong vote of confidence, as we raised £30 million in our latest funding round.
All existing institutional investors, Molten Ventures, Left Lane Capital and L Catterton, participated in the round. They were joined by new investors, the Phoenix, an investment manager with over $100bn in assets, and Capricorn Capital Group, a private investment firm.
We raised this capital following a period of strong performance for the business amid volatile equity markets.
Our registered users surpassed 1.3m in the UK alone, revenue for the calendar year 2021 increased over 6x to £15.1m, AUA surpassed £1bn and trading volumes for the year exceeded £3.7bn.
We raised this money through a convertible loan note. We believe this is a prudent step forward in our mission to building a sustainable business.
The money strengthens our balance sheet and provides us with the firepower to continue to develop our product and meet the needs of our customers in the UK and Europe.
In the past few months, we’ve introduced a series of new features to our products, such as Freetrade Web and highly requested stocks, as well as securing a licence from the Swedish financial regulator, a big step forward in our European expansion.
We’ve also recently onboarded our first customers in Sweden, and we’re planning to expand our Swedish beta offering over the next few months.
With this new capital, we’re excited to accelerate our international plans and give access to markets in a responsible and trusted way.
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When you invest, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest.
Freetrade is a trading name of Freetrade Limited, which is a member firm of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales (no. 09797821).
