Is there still going to be a 2nd wave of Round 6 in 2020?

This Freetrade raise will have two separate offers of shares, which will be completed and closed separately, but there is no difference: the price and terms are the same in both offers. Please read the FAQs below for further information. £3.3m of the funds relates to the first offer and for logistical reasons is represented as a single investment, however, it was raised from 2707 individual investors. - Freetrade successfully raised £1,000,000 May 2020.

Does anyone know if the 2nd wave/offer is taking place or was everything completed in the 1st one?

They happened consecutively; once the first raise limit (£3m from memory) was reached, it was closed and the second opened. There was legitimate reason for operating in that way, if you search.

There won’t be another “wave”, to my understanding.

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Ah thanks! I’ve no idea where I got the idea that the two were happening months apart.

Possibly because people were discussing paying in May for the first section, and in June/July for the second section of the raise?

Why did no VC join the round? That’s a bit worrying, was it because the valuation was over inflated?

That’s been answered on the ama with the guy from draper. Basically they would want to invest millions but freetrade were capped by EU regulation and draper saw the huge benefit that having thousands of new investors to Freetrade would bring rather than us all potebtially having Jose’s put out of joint by missing out on the opportunity. There would have been no point in them investing 500k say given the size of their other holdings and the fact it was subscribed by individual investors alone.

Well i think they are just using you. Otherwise they would just raise 50m and do it,

Anybody who hasn’t invested dont have to worry about it. Those of us that have will have done so because we are confident they are not using us or anybody else


Just out of interest. How would you be thinking the investors would be being used?

Raising £50M at a £140M valuation, or even less as you suggest it is overvalued, would be a massive dilution


Honestly I think you’re right, but not for the same reasons.

Look at the relative lack of features on FT in comparison to its popularity and community support. FTs greatest asset is its community. They advertise and recruit for free mostly. They support new investors and invite them into the fold. I’m sure Draper understands this, FT is far more valuable with a community invested rather than high VC ownership.


It was mentioned in one AMA that draper like regular crowdfund raises, and they’ve suggested one a year. Make of that what you will.

I’d personally rather not see anymore VC funding until we get to a much bigger valuation.

Any thoughts on what might happen if RobinHood does end up launching this year in UK? Is it seen as a direct competitor?