We think about growth a bit broader than individual tactics and ideas. Growth is something we’ve configured for from the start with fundamentals e.g. FCA authorisation, becoming a member firm of the London Stock Exchange, etc. As a result, we smashed our Crowdcube round. Eyeballing the data, I think the mode investment is probably £2,000, which shows a lot of people have very strong conviction about Freetrade. And we are not talking about VC types or high net worth individuals. It’s future customers like yourself making big bets on us. It’s humbling.
We’ll amplify the tactics that work well, e.g. referrals, potentially implementing new ideas like queue jump tickets. We’ll continue to not invest into paid channels where we don’t see the economics setting us up for long-term, high-quality growth right now. But we are not dogmatic. In any case, we’ll continue to spend a tiny fraction of what other companies do on lead acquisition.
One of our priorities is hiring, which will set us up for even more growth and execution! Watch this space for more updates in the coming weeks. I’m super energised by what’s coming in the next few months!!