Freetrade’s CrowdCube Fundraise

(Tommy Lowe) #540

On my previous Crowdcube investments the share certificates were issued typically 1 month after payment was taken, in this instance it looks like Crowdcube will take the money on 30th May, maybe @HannahCrowdcube can confirm though . I’ll leave the second question for a member of the @freetrade_team.

(Hannah) #541

Hi @GD13 the seven day review period expires at 5pm on 30th May. We normally aim to start collecting payments within 3 working days of this date

(Calum McWhir) #542

It’s the maximum number of shares that could be issued in the future based on existing options granted if / when they vest. The board has authority to grant further options as the team grows, and can seek further authority to expand the pool in the future.

On this topic, we’re emulating the ‘Silicon Valley’ approach to employee incentives which is relatively rare, although becoming more common, in European startups.


Thanks it was just a curiosity as I’m sure you have sensible vesting periods and award on merit etc.

(Cameron Chisholm) #544

I’ve seen the amount raised has started decreasing, will you be able to squeeze anymore investors in? I missed the fundraiser :slight_smile:

(Vladislav Kozub) #545

@Cam See Hannah’a reply regarding expressing the interest:

(Cameron Chisholm) #546

@Vlad Thanks, but it’s up to Freetrade as to whether they will accept more investors, right?

(Donald Philp) #547

Quick question, if I happen to be chosen for an “interest I have shown”, what is the timeline you require for an investor to clear their interest?

(Vladislav Kozub) #548

@HannahCrowdcube would be the best to advise on both

(Adam) #549

Hi Fabian, good question and something I hope all our investors understand.

“Series X shares” typically refer to preference shares issued in a single funding round. They may have many special rights with probably the most common being first claim on the proceeds of any sale, aka liquidity preference. We don’t have any preference shares, just ordinary shares.

That means in the event of an acquisition or IPO the proceeds would be distributed equally among all shareholders, regardless of when they acquired their shares.

What we do have is a dual class structure. Everyone has either A class or B class shares, or some of both. The important differences are that B class do not have voting rights or pre-emption rights.

Pre-emption rights mean that you have the right to participate in any future funding rounds on the same terms as the other investors in that round, up to your current shareholding percentage. You get to join the party, even if it is a VC round. :confetti_ball:

(Donald Philp) #550

I think ive found the answer 3 days after the 30th of May. Really hoping I can get a chance to buy.

@adam this might be a difficult question, but going to ask it none the less, how much equity has the management team bought into? I know @Viktor has quite a bit based on his interview, but its always good to hear about alignment of interests. Anyway, im not sure if you want to answer or can answer this here? :+1:t4:

(Hannah) #551

Hi @chonkie, we’re contacting investors on a first come first served basis when they have registered their interest, and will give them instructions to make the investment by the 30th May at 5pm

(Donald Philp) #552

:+1:t4: thanks allot



(Viktor) #554

This might interest you: IMPORTANT: If you didn’t get to invest on Crowdcube We’re working with Crowdcube to swap in investments faster.

Stock options are a significant part of everyone’s compensation, which is quite unusual for Europe - we give the same level of stock options as startups in California. So yeah, we are all 100% aligned! :100::+1:

(Viktor) #555

Only one inaccuracy in the article: “currently waivers fees for portfolios under £10,000” - not true, all portfolio sizes are free. We’re getting it fixed.


In that case, you may also want to fix this article written last year :face_with_monocle::

Millennials to be wooed by commission-free stockbroking app:


How long after Crowdcube funds are collected will it be when we get our EIS forms?


Those pesky millennials!

(Calum McWhir) #560

Several months based on previous rounds - we’ll update you when we know more!