Where’s those French translators when you need them!
Viktor Nebehaj: “In addition to France, we plan to launch Freetrade in Germany, the Netherlands and Ireland this year”
A UK commission-free trading app, Freetrade has raised more than £ 30million (roughly € 35million) to date. In 2021, fintech plans to launch in several European countries, including France, and to carry out a round of crowdequity financing. Meeting with Viktor Nebehaj, co-founder and CMO of Freetrade.
By Caroline Soutarson. Posted March 10, 2021 at 3:30 p.m. - Updated March 15, 2021 at 11:21 a.m.
Where is Freetrade located?
We have 600,000 users in the UK, our historic base. We also have 1,000 users in the Netherlands and Ireland where we have launched beta test products to learn more about users outside of our home market. The experience in the Netherlands, for example, allowed us to think about KYC before any launch in Europe. Now we plan to open a European headquarters in Stockholm, Sweden, as part of our pan-European expansion. In addition to France, we plan to roll out the Freetrade application in Germany, the Netherlands and Ireland this year.
What is the schedule for launching Freetrade in France?
This should be done in the coming months. At the moment, it is possible for French customers to register on a waiting list. But undeniably, the launch will take place in the first half of 2021.
Welcome to 2021.
When FreeTrade launch in France, Germany, Ireland etc. Are they planning on offering the same product?
London Stock Market and AIM
Or are they also planning on expanding into some of the European Stockmarket?
EU stocks addition has been in the works for a while.
eToro IPO-ed via a SPAC this week @ $10B valuation. They do have 14M users.
One thing which I think its kind of cringe, is how they are marketing themselves as “the social investment platform”, just because you can subscribe to see other people’s portfolios. By the time, you invest in other people’s hyped stocks, you’re overpaying and end up being the bag holder.
Etoro only have ~1m funded accounts.
I have heard this 1m funded accounts a few times now but don’t know what that means. Surely they don’t have 13-1 empty accounts and if they do then isn’t it just 1m accounts?
if they have just 1.2m accounts funded it means that they make $500 revenues per account (the company has $600m revenues)
Its a extraordinary metrics (good for them, terrible for the client…)
Slide 45 of the investor presentation yesterday.
I made an account with etoro years ago to look around. They probably included that in the 15m they’re shopping around. Although they do have a CFD side of the business which are almost always high churn, IG has less than 1m customers and managed 200m+ revenue in the latest quarter.
you made an account, meaning that you provided your personal info or just an email?
Really can’t remember.
$605 revenue per user on average then.
I too have an account with them but no funds as you can play around with ‘virtual portfolios’.
Freetrade, which is backed by the venture capital firm Draper Esprit, is currently seeking a principal product manager for its crypto offering. The person will be tasked with “devising and owning” Freetrade’s crypto strategy and will be given “a blank sheet of paper," suggesting the specifics of the product are still to be fleshed out.
“This role will lead the scoping and implementation of an institutional-grade crypto offering on Freetrade,” a spokesperson told The Block, adding: “This move into crypto has been in the works for some time now. Crypto assets are highly requested by our customers and are increasingly being acknowledged as a key part of long term, diversified portfolios.”
Freetrade mentioned for comment
This is a must read article,very informative