I think it’s about as expected for me. There were only around 7k total existing investors and not all are going to participate, especially when they see how many shares they’ll get compared to previous investments (shouldn’t have an impact, but I suspect it will - I was a little shocked how much the price has grown). Last round (late 2017) only had half investors take up their option to buy more. The interesting bit will come when anyone can invest, I’m really interested to see how much impact having it in-app will have - with notifications in people’s feeds that’s going to reach a lot more people, however I guess most would be in the £20-£100 range.
I’m still skeptical they can reach £20m, but even £15m invested by existing customers would be great for building their brand loyalty I think - there is something about owning a piece of a company that makes people great ambassadors for it.
It would be really nice to see future Freetrade rounds done this way, without having to leave the app (even if crowdcube is used behind the scenes), or just to see existing freetrade shares within the app would be a nice touch I think either in profile or optionally in holdings.