Freetrade is crowdfunding on Crowdcube 🎈

Haha I was planning that anyway actually, there’ll be a new crowdfunding thread once we go live :smile:

4 Likes

I just hope Crowdcubes servers are ready :joy:

4 Likes

Imagine that eh, the servers crash! That would be a nightmare!

The link is slightly different from what your post said. “If you would like to reduce your investment while the pitch you have invested in is live, you will need to cancel your investment and then make a new investment of the reduced amount.”

So to reduce your investment, you would need to cancel the original investment first, which may mean you loose your EIS eligibility if you’re not in the first £2M of funds any more? And I guess also if the crowdfund hits the funding limit someone else could jump in the moment you cancel your initial investment?

3 Likes

Invest quickly in a few stages so if you want to cancel some of it you can? If you make, say, three investments even if within a few minutes, they are considered separately by Crowdcube.

2 Likes

Crowdcube will calculate the share price on a fully diluted basis, and it will come to 84.32p.

5 Likes

From my reading of the link on cancelling or adjusting any investment I read it as while the Crowdfunding is still live the investment cannot be amended without cancelling and re-investing… but once the crowdfunding round was closed and we are in the ‘cooling off’ period that investments could be reviewed and reduced if required…

Also, investors in a pitch that successfully reaches its target amount will be emailed a copy of the adopted Articles of Association, and are a cooling off period in which to review them. During this period you can query, reduce or withdraw your investment if you wish to do so. Once the cooling off period, which is generally no shorter than seven days has expired all investments are legally binding, and cannot be cancelled.

I think one of the greatest strengths of Freetrade going into this raise is the strength of its community. @Viktor @Freetrade_Team1 would you be able to give a rough estimate on the number of users (active) on the community?

2 Likes

You can see this on the site’s about page About - Freetrade Community.

1,600+ users have been active in the last 30 days & there’s 3,000+ users in the community in total.

There’s some more stats about how this compares to other FinTech communities in the pitch deck, we’re punching above our weight at this stage, considering how many customers Freetrade has :relaxed:

7 Likes

We’ll send an email too + a push notification :bell:

2 Likes

Looks like you’re correct, you can reduce your investment during the cooling off period, it seems.

Thanks Viktor appreciate the reply and good luck today with the latest round of funding.

1 Like

Is it just me who can’t see the video of the meeting a few days ago?

FreeTrade’s YouTube channel only seems to have 2 videos… the most recent from 15 April…

Thank you, we appreciate it! :purple_heart:

A reminder of how big the ISA market is and this is just in the UK - ISA Market in the UK

Growth hack it!

Hey @gt94sss2, sorry for the delay on this. We’re finalising the crowdfunding launch right now.

We hope to share some of the best bits from the video in the next few days, stay tuned!

1 Like

I’m ready at my laptop! :sweat_smile:

Guy for some reason its already live for me , and i think iam the first one to invest . :grinning:

Please share the link :joy:

1 Like

Sorry to spoil the fun but please don’t share the link, it’ll be taken down momentarily.

1 Like