Freetrade is crowdfunding on Crowdcube 🎈

(Alex Sherwood) #1

Follow this thread for all of the latest updates on our plans for our 4th crowdfunding round.

The round will start at 12pm on the 25th April. We’re aiming to raise £1 million or more.

We’ve shared all of the details about how the crowdfunding will work in this wiki -

Freetrade crowdfunding FAQs (25th April 2019) ❔

Our CEO will answer your questions on Friday here.

You can see the search results for the team’s updates in this thread here.

Read the community’s predictions for our next round before the announcement here 4th round?

We’ll share more details very soon.

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4th round?
Freetrade crowdfunding FAQs (25th April 2019) :grey_question:
#2
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4th round?
(Ben) #3

Crowdcube will not know whats going to hit them. I bet the site crashes!

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(Alan Hurrell) #4

How much have shares been in previous rounds?

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#5

Edit: its not £27m but £18m as per below posts

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(Charlie Hammond) #6

Where’d you get £27m valuation for 2018 from? Freetrade’s crowdround was at £18m premoney.

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(Yogesh) #7

2018- I thought valuation was 18 Million

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#8

Hmm not sure

Would of got it from somewhere :man_shrugging: Fair enough if £18m

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(Alex Sherwood) #9

AngelList incorrectly displays our valuation from our last round as $27,000,000 but our pre-money valuation was £18,000,000.

Before I joined Freetrade, I created a handy wiki with the key details about our last round :blush:

What we know about the the latest crowdfunding round so far (FAQs) (Open Wiki) 📋

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#10

I shall update my spreadsheet accordingly :muscle:

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(Danny Jeremiah) #11

Soooo, over/under £100m?

I know it’s not Apples for Apples but Monzo raised at a £85m pre-money in early 2017 when they were at ~100k users. However, they were making almost no revenue (we know Freetrade is making some), in fact they were making a significant loss. That was also before they were a bank and over a year before they removed the waitlist.

It feels like this FT round should be something similar, perhaps even more as the business case looks arguably more solid than Monzo’s, but then what do I know? Where was that article about how to value a startup? :stuck_out_tongue_closed_eyes:

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(#18414) #12

I would be very surprised if Freetrade weren’t running at a loss at this stage

£100 M, even £85 M, a bit rich I would say today, the 12th April 2019

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(Ben) #13

It will be interesting and I’ve no idea on these things. What I do know that a year on and Freetrade as an entity has to be worth considerable more. For me I wouldn’t sell my shares for anything, but I would expect 5-10x what I paid for them if I did - so guess I’m banking on the 100-150million mark myself.

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(Danny Jeremiah) #14

Oh definitely it’ll be running at a loss, but my assumption is it’s not the ~£60 an account that Monzo was. There’s just not the same level of overhead as Monzo such as physical card shipping and ATM fees.

Also, there’s no messy migration to go through like Monzo had with prepaid to full bank account.

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(#18414) #15

I’m not familiar with Monzo. Unfortunately I only became aware of them in January. The perks of living under a rock I guess. It’s my fault really. I should have joined this forum when I first signed into the waitlist back in the summer of 2017. On a positive note, new day new opportunity

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(Matthew) #16

I appreciate that it’s a different segment within the wider Fintech space and that it was over a year ago, but the last WeSwap round raised around £1.1m against a pre money valuation of £28.2m. At that point I believe that they had around 400,000+ registered customers and were already showing quite high and rapidly growing transaction numbers.

Matt

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#17

2016 share price would have been 0.08 surely, not 0.8.

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#18

:man_facepalming: You are indeed correct

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(Sam Landsman) #19

Nice spot :joy:
I’m sure everyone read it as 0.08

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(PeterM) #20

I guess we will have more information about the next crowdfund on the 23rd of April! :slight_smile:

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