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?
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.
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.