Freetrade in the news 🗞️

https://draperesprit.com/news/draper-esprit-joins-69m-series-b-round-in-portfolio-company-freetrade

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Nice article @LewisHarding

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Thanks Jonny😄

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FREETRADE

In March Draper Esprit participated in a $69 million Series B fundraising round for existing portfolio company Freetrade. The round was led by Lane Capital and the funds will help to accelerate Freetrade’s growth in international markets and allow the team to scale their product and technology.

Freetrade is a commission-free investment platform, founded by CEO Adam Dodds, and CMO Viktor Nebehaj. The app launched in the UK in 2018 and has scaled up to serve over 600,000 customers (as of 1 March 2021). Prior to this Series B funding round, Freetrade has raised approximately $42 million (£30 million) in seven crowdfunding rounds and a Series A led by Draper Esprit. Unlike traditional DIY brokers in the UK, Freetrade does not charge commission on individual trades, instead operating a ‘freemium’ business model whereby the company charges monthly subscriptions for a premium account, a stocks and shares ISA, and a SIPP.

Draper Esprit’s gross fair value holding in Freetrade increased by approximately £5 million as a result of the fundraising round to approximately £20 million (including new capital). It is anticipated that Freetrade will join the core portfolio when we report our results for the year ended 31 March 2021.

from 8th April 2021 - RNS - Investment and exit update

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Always great to see Freetrade being quoted in the mainstream press. You have to read on a bit past a couple of competitor references but clearly identifies itself as a platform intended for longer term investors:

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