Freetrade’s crowdfunding round is closed, the community invested £4m+ 🎉

Hi guys :slight_smile:

The EIS certificates for R4 are currently being processed by our EIS administrator. He has confirmed that certificates should be completed and sent to investors in the next 6-8 weeks.

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@MaximoGF my apologies… My EIS certificate was from a different investment. I was getting confused. I have NOT received my Freetrade one. Sorry for any confusion caused. I feel like a fraud! :sob::rofl::joy::laughing: All information above re EIS is correct though.

@HannahCrowdcube keep up the good work!

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Is there another way to invest other than CrowdCube? As I have had really bad experience with CrowdCube and yet I’d like to invest.

  1. Poor customer service, support by email but you wait too long for a response. I didn’t get a reply for over 24 hours and had to resort in tweeting

  2. CrowdCube accidentally opened two accounts for me when I made an investment I gave a different email for the company I was investing in. No one in CrowdCube took ownership or cared about this major technical fault let alone apologised because the customer support team don’t understand the technology.

Hence I don’t trust CrowdCube but now feel forced to reopen an account with them as I’d like to invest in Freetrade.

Thanks

S

The only option will be through CrowdCube - hopefully it goes a bit more smoothly this time

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Hi @SarLondon111,

I’m sorry to hear you feel as though you’ve received poor customer service. To hopefully provide some reassurances, I’d like to address each of your points in turn.

  1. I can see that you received an initial response within 6 minutes of submitting your support request and a full resolution of your ticket by the next day. While we will also aim to resolve a support request as soon as possible, our usual office hours are 9-5.30 Monday to Friday, which may sometimes impact our ability to fully resolve these requests.

  2. Please be assured that we would never open an account on behalf of an investor. Having looked at your details, it looks like a new account was opened, presumably accidentally when downloading and signing into our app. You had invested through one account, but the app was linked to another one. As discussed, this has now been resolved as per your request.

I am genuinely sorry if this process caused you any concern, and I am more than happy to answer any questions you may have should you wish to open an account with us to invest in Freetrade.

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Thanks Hannah, the problem with asynchronous customer service is that whilst I had an initial response after 6mins it was poor advice and the agent didn’t understand and just sent me a link which wasn’t appropriate.

It’s important I share my view with others as I opened an account with the app with one email and then when I went to invest it asked me again for an email but I gave a different one as i didn’t want spam and consequently CrowdCube opened another account. So I had two accounts opened in my name.

If you want to improve your customer service it’s needs to be synchronous real time support otherwise you end up like me - sending around 10 emails and not getting anywhere.

Thanks

Hi @SarLondon111,

We are continually looking at ways to improve our customer experience, so we appreciate and take on board your feedback.

The vibe of the discussions on the Crowdcube page is interesting - at times a bit punchy and a tiny bit annoyed at being asking to visit FT’s community site. Anyway, it’s all good, testing the proposition etc. https://www.crowdcube.com/companies/freetrade/pitches/ZpvDyq/discussions

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We appreciate all those questions, and Adam will send another round of responses soon. It’s amazing to see some of our community members are answering questions in the meantime though, we are lucky to have our community! :heart_eyes:

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I imagine it could be close to a full time job answering investor Qs!

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Has the £3m EIS fully gone now?

I think so as there was only 350k left 5 days ago, and the pitch page is no longer showing the EIS badge.

You can find a update on Freetrade’s crowdfunding page

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:eyes: sneak peek - Custom app icons for investors :freetrade:

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Just joined the club of investors. It wasn’t a lot only £50 - all I could stretch too at the mo! :grinning:

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Awesome! We’re grateful for everyone who invests :purple_heart:

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Closing the round (not sure if I can post the full update from Crowdcube?)

Does this mean money will be taken one week from tomorrow?

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Usually we’d ask people not to share posts from Crowdcube but this is a more generic update about the process for this round so I’ll share it here too -

We’ve had an amazing round, overfunding to 370% from over 4600 investors. Thank you to everyone who’s invested so far.

We’ve decided to close the round at 11:59pm, Tuesday 9th July. If you want to invest, you have until then to make your pledge.

One consistent question has been what our future funding plans are. While we’ve been incredibly fortunate to be wholly financed by our community to date, to the tune of over £10 million including this round, we do have plans to add institutional investors to the mix at some point in the next 12 months.

Closing the round now means that we’ll still have room for more crowdfunding in the next 12 months too.

https://www.crowdcube.com/companies/freetrade/pitches/ZpvDyq/updates/ZNM8Jl

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Guess institutional investment will send the share price to the moon moving forward. Great work so far FreeTrade. :rocket::rocket:

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Hi @neovo,

We are aiming to send the cooling off email to investors in the next few days. Once the 7 day cooling off period has expired, we will aim to collect payment as soon as possible.

Please note that we will send all investors an email 24 hours before we plan to collect payment, so you will have time to ensure funds are in your account.

Any other questions, just let me know :relaxed:

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Now that the crowdfunding round’s closed, lets carry on the discussion here: We smashed our Crowdcube round again... again