We have extended our 2023 crowdfunding to Thursday 6 July 2023 as we had a lot of questions from the community and we want to address these live.
At the event on Tuesday 4 July, we’ll have Adam and some of the C-suite doing a live AMA, while also taking some questions posted on the forum before the event. Head here to post your questions for Adam and the team.
This event will also be live streamed in a webcast.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more
will reaching profitability change how the company operates or approaches the business and customers? One example that comes to mind is the added reassurance for customers that they’re with a profitable company
there’s been issues with transfers in and out recently, how is this being solved? (This has made me pause on transferring some assets in, partially because I don’t want to add to the problem and partially as I don’t want to deal with the problem )
And a new one
HMRCs take on fractional shares may have some people wary about investing. There’s been some assurances given on the forum. Is there any more that can be said on this, maybe additional detail on Freetrades view and why you think it will go in your favour?
How many engineers do you hope to hire after this raise also how many features do you intended to work on at a time eg having two separate teams for separate projects
Freetrade has stated that this funding round is to expand the business. Can you offer further insights into this? Are there plans to attract new customers/targeting higher net wealth individuals. How will you prise these away from the likes of Hargreaves Lansdown?
Is the Australian team now just supporting the dev for UK/Europe or is there still plans to launch in the Australian market this year or next if you can share that at this stage? Thanks
For longer term, what are the revenue streams other than membership and trade commissions? Are there any plans for FreeTrade to own and manage funds for basic investments.
Technology is important for scaling the business. What impact does expanding to different geographical locations have on technology? Does it become an overhead in longer run having to maintain flexibility?
I don’t remember the exact figures but were clearly positive for June update which was well ahead of their projected numbers. Prehaps @omarft could share the slides. This should have postive knock-on effect for future figures.
The CLN should be concluded following the closing of this funding round but might take a bit of time and will be at the 20% discount of share value so should convert at £2.08
Freetrade were clear that they didn’t/don’t need to fundraise to turn positive but plan to use the funds to expand. In the first instance to consolidate Sweden through greater marketing.
They also spoke about securities lending which is important part of their model to increase funds as well as onboarding future customers through subscriptions.
They also touched on PFOF but this doesn’t really effect UK customers.
I’m sure there were some other things in there that I’ve missed off so others please jump in.
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