We’re live - https://crowdcube.com/freetrade
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
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Pre reg for early access, invested in a number of pervious round and still need to request access to the pitch deck?
I know this will be at Crowdcube’s end but really?
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Same but I requested and was given access almost instantly earlier
Any idea how much cash they actually have on hand? Can’t see anything in the pitch deck detailing if this is actually a going concern or this is a last ditch atempt to raise capital before they get totally screwed. No institutional investors this round…
Is this due to liquidation preference of preference shares?
Hi @freetrade
What is the difference between B Investment and A Ordinary shares?
I am considering investing 2.5k and I don’t know what additional benefits I get by investing 5k
Thanks
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Looks like A Shares are held directly by you and not under Crowdcube nominee. So with A shares you wouldnt have to pay Crowdcube a success fee I presume.
Hi @Salternator that’s a good question and apologies, we can add this in. At end of May '23 our corporate cash balance was £20.8m.
We’ll provide a short update on the pitch with this and some other details.
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£1k ‘B shares’ are also held directly
Each A Ordinary Share is entitled to vote and rank equally with other shares in respect of dividends and capital distributions (other than a sale). The A Ordinary Shares carry no right of pre-emption on an issue or transfer of shares.
My understanding is that A shares give you the right to vote. What type of voting I don’t know.
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Hi @sishbi
B Investment shares are non-voting. If you invest over £1,000 but less than £5,000 you get a direct shareholding in these rather than via Crowdcube nominees.
A Ordinary shares are voting shares. You’ll hold these directly as well.
Hope that helps
Alex
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Thanks @acamp
When you say ‘held directly’ - does that mean held in Freetrade or another app?
Or will this be in a share certificate?
Is this the only difference? The FCA require that different classes are shares are clearly described - see the FCA letter in response to Aviva preference shares in 2018. It doesn’t seem that clear to people. Have you ran this offering past your regulator?
This just means you will be named on our share register. You’ll have access to cap desk (our tool that manages our shareholders) and you’ll be able to download a share certificate (you are able to get this stuff too if you hold shares via Crowdcube Nominees).
The other benefit here is that the costs and charges Crowdcube will take are slightly different.
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Yes David this is the main difference. We describe the distinctions in the Key Information Document that is attached to the raise. This provides all of the detail that is required by the regulations.
Let me know if you have any further questions.
Thanks
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Does anyone know what will actually happen to crowdfunding investors if freetrade were to float or be bought out?
Not speculative or a thought on what will happen - what will actually happen to people who have invested over the years (or today) via this method?
Good to know, thanks.
I’m not getting involved in any more start-up finding outside of Scottish Mortgage Trust or similar so asking for the crowd.
I invested in Revolut too and they have problems with getting a bank license partly due to issuing preference shares to Softbank. So it’s just something I’m aware of.
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It is clearly described to be fair.
I would say it’s worth becoming an A shareholder, as you get additional insight into what is going on due to getting to votes on shareholder resolutions.
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Great presentation last night, it has provided me with confidence that Freetrade is moving in the right direction (…which I haven’t always felt)!
Does anyone know if they recorded the presentation? I would like to watch it.
Depends on the exit price …