Socks
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What ballpark figure do you think the raise will be at?
Correct. I believe the Series B discussions were initiated and based on user numbers around 285k
See the link in my post 7 lines up which outlines the different raises, user numbers at pitch date and user numbers once the round was finalised.
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Raise will be in the £850m - £1b range IMO.
Series B was £270m pre money, priced off 285k users. We are now at circa 810k users and should hit 900+ when the round goes live.
There’s also been a ton of new hype / interest in the space since the Series B. Robinhood will IPO in the $30-40m range, Trade Repulic raised a massive round at a massive valuation and Etoro looking to list a SPAC around $10bn from memory.
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My guesstimate keeps going up and I think it’s possible they could be £12 according to the series B metrics, but that doesn’t even take into features like sipps and what am guessing is new features that will generate extra revenue, plus the expansion of the app into Europe, Australia and Canada… Exciting times ahead.
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How did you get to £12 using Series B metrics?
Based on GMCay excel sheet
I valued each user at 1k multiple that by the estimated user numbers for crowdfunding for R8 and then divided by the number of shares in circulation which is about 72.5 million.
Again this is just my guesstimation.
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Where are you getting 72.5 m shares? Is that considering employee share options?
Yep, only 63.5m shares in issue at present
I just checked the September 30, 2020 annual accounts. There are an additional 6m share options, so perhaps we are close to 72.5 m fully diluted shares right now.
Nothing special to be assumed from that I don’t think. Options vest over 5 years so 2024 is the end of the period for those options issued in 2020. There must have been a lot of new options issued along with the increase in employees in 2020.
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Valuation was $366 million which is £265 million,
Each share is valued at £3.77, so 265,000,000/3.77=70,291,777 shares
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Anyone got a Latest User Number?
also, Come On England !!! 
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If nothing else, Adam gave an unofficial target of IPO within 3 years this year. May not come to fruition that early of course but will be very interesting to see what FT is doing in 2024
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How many accounts have you made here? Do you keep getting banned? Why?
To me this implies less than 3 years, 2 years maybe?
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Fabulous drama Brian. Don’t worry I won’t tell 
Better than an episode of Taggart 
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Signed up on july 3rd via Colin frurze link.
Deposited and bought a share- not got a free share yet.
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Hey @Emma84, can you drop us an email at hello@freetrade.io and we’ll check this out for you. Thanks
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