No EIS though sadly.
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Adam said on Twitter the share price will be below 9.2£
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Thanks for the information. So the shares outstanding shares have increased in that case. Or it was just a wild guess.
Got a link to the tweet?
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That share price seems low. But good for those wanting a piece of Freetrade at this stage.
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According to last funding which was 265m at £3.77, there should be about 70.2 million shares
I just grabbed the #shares from companies house, I don’t know if they’ve issued more since, but I feel like it was after the last round when I updated it so not sure what’s up with that.
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I’ve probably missed it but are the caps for founding members etc still the same as the other rounds?
£5k gets you socks etc? 
No problem, seems they’ve issued quite a few more in advance of this round. Could even have granted more for VC money?
stock options maybe are not included?
Likely for options.
That’s £9-10 a share based on my calcs. Given our investments are completely illiquid right now, whether it’s £10, 11 or 12 or even 15 this round is almost irrelevant. Let’s wait until when it really matters in 2-3 years when we will be looking at many many multiples from here.
The good news is that this should bring in 10,000’s of loyal FT ambassadors to really increase users and size of portfolios in UK and EUR.
Let’s not forget where we have come from. For R1 investors this represents X110 and R2 investors X60 
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Yeah this filing on 22 oct for Aug 11 shows 64.1m so I guess there have been more since
22 Oct 2021 Statement of capital following an allotment of shares on 11 August 2021
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64m shares + 6.1m options = 70.1m £650m / £70.1= £9.26 a share.
I’m a lot more interested by the fact we currently have a £24m revenue run rate and Adam thinks it’ll top £100m in 2022. That and opening offices and scaling in Europe, Japan, Canada & Australia should drive a future IPO at least 3-5 x the current price.
58 bags from my March 2017 investment & still very good upside for new investors. Win win.
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So looks like share price will be around £9, so people from round 4 will have gone 10x return? I believe the round price was 84p.
Overestimation on the share price from people on the forum here 
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Yeah I just noted the same on my valuation model, a big miss this year but they are increasing the estimate for next year so they must have some big expectations for scaling quite early in the year.
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It’ll be the huge user influx that they’ve seen since the big OOH campaign kicked off a few months ago, 100k funded users joined in October alone…
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Really don’t understand people disappointed by the valuation. Average account size is still much smaller than peers, AUM is lower than they previously forecast and revenues haven’t really got going yet. They apparently achieved £1m for the month of December 2020 so £10m for the full year is less than I expected. Still making great progress and the guidance is very encouraging but I think there is a need for a dose of patience here!
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Any idea on the burn rate?
The story is very good overall. The raise is only 2% dilution so very immaterial to long term prospects.
It creates a step based story for valuation. So good overall.
Revenue projections hitting close to 100m over coming 12 months is great.
AUM is not as material for Freetrade as other competitors. More reliant on subscription revenue and all that.
It’s a fair price for incoming investors. And still a hefty uplift year over year. I would have loved 1bn but it’s also a sales tool.
Good job Adam, Viktor and the team.
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