Possible comparative: Robinhood had 4m users, 150bn transaction vol and 3.4m rev when it raised at a 5.2bn pre/5.6b postmoney valuation in 2018 (sources here and here ). That gives a value per user of ~$1300 (pre money).
The only one of those numbers I know for Freetrade is 12k users. We might be generous and say that another 50k are onboard by the time the next raise happens, and that they’re all actively using FT. So 62k users. Robinhood’s value per user would imply a value per Freetrade share of £1.60 ish. (But would be very interesting to hear FT’s transaction volume, rev, % instant vs basic, stuff like that!)
Anyway :shrug: 