Sure, have an opportunity to invest in the start up I am working for. We are offering currency exchange, international payments and fx hedging products to small and medium sized businesses and have been growing nicely.
FT has dealt this year with 2 largest customer pain points (instant deposits + live pricing), added a major sticky revenue stream in the form of SIPPS and we are looking at 1m users milestone sometime around November this year.
Looking to sell about 15% of my holding. If you don’t trim now good luck at finding people willing to buy a large enough amount of shares at more than >10£ per share next year if all things go well. Unless we are lucky enough to get another liquidity event.
Honestly it’s just a risk exposure thing for me @GMCay. I’ve had zero change in heart on Freetrade. IMO this round is just the tip of the iceberg valuation wise, the space in general is heating up like crazy. Look at Robinhood’s Market Cap weeks after launch. All that aside, I’m now relatively asset rich to cash poor. Selling 5,000 shares would be taking off less than 15% of my holdings.
Similar to @szb I have some new cash requirements. I’m in the process of launching a venture and would like to extend bootstrap runway before raising a seed round.
I would say I disagree slightly on the ability to find apatite above £10 after the round. I think this CF round will be priced at £12+ and would think FT will raise a Series C in the £2-2.5bn after EU and Japanese launch, mid next year. I imagine there will still be significant retail investor demand and interest for years to come.
@szb@herbsandspicy thank you both for sharing. I was thinking it was something along those lines, so thanks for putting my mind at ease.
I do think there will be some more liquidity events over next few years, but understand your other opportunities can’t wait until then. I am in it for the long haul, or at least until I hit my price target! Hoping IPO in a few years, as that would be incredible to experience having been here since round 1. Patience, along with sleepless nights…
