Just curious about this, I know in the current climate people are moving in different directions with multiple things. Just wondered if Freetrade monitor this and if the figures for ‘current users’ in fact include ‘former users’ also? For clarity, I’m not trying to create a topic for an argument here, would just be interested to know.
Not sure I completely understand. Are you trying to find out how many of the users are active, say every month, as opposed to users who download the app and seldom use it, and users who download the app and don’t use it at all?
I’d love those stats too. I believe in the next crowdfunding round the pitch deck will likely have some info about it, not necessarily about everything, but some of it. Meanwhile, I’m also curious
OK, what I’m trying to establish here is if any users have actually left Freetrade but the current user numbers are not reflecting this. I hope this makes sense.
I get it now.
I bet some former users left Freetrade and migrated to other platforms. I also bet the opposite occurred. I don’t believe any of the current providers, both incumbents and challengers, and those to come for that matter, are untouchables, nor they are proprietary of users. I’m glad there are an increasing number of options to choose from. I believe that in the end a greater number of people will have accounts in multiple providers. And that is the best for the consumer.
Freetrade it’s not the best option for everyone. It is my choice of preference cuz it fits my needs. But I also have accounts with others. Some I may leave. Others I won’t.
Sorry. Diverging from your goal
I would also like to know that, but I think a better metric might be the one of active users. I’m not sure it’s possible to find out accurately if someone closed an account to migrate to a different provider.
I think what you are after is inactive users. Not something fintechs report a lot except Monzo I think
I wouldnt expect to see metrics like active accounts, funded accounts, etc reported until perhaps the next funding round, if that.
Is there likely to be another funding round?
It’s likely, yes. Victor has mentioned a probable crowdfunding round later this year. Recently, he also said they’d wait until after the COVID-19 mess to decide and share many details.