šŸŒ³ Spring Meetup - Freetrade HQ, London

Freetrade Chat šŸ”„
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European expansion was discussed.

The thinking was to release a MVP EEA-wide (Norway! Iceland!), English language only initially, and local market customisations would follow gradually over time.

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For those looking for what was announced, unfortunately clips still havenā€™t been released yet however you can check out this blog for the major highlights.

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Thank you for putting this together. Also interesting point about hiring IT/Developers from outside of the UK. If anyone from the Freetrade team is looking into this, Iā€™d suggest looking into Bulgaria first as personnel expansion and also as a potential HQ for the EU.

There are many tech companies that move their offices to Bulgaria and itā€™s mostly due to cheaper costs for what the market provides and 10% flat corporate tax.

Also to Freetrade- thank you for finally sharing some info with the community, imo that was your main selling point and why I initially joined Freetrade. Without those itā€™s just another company and as soon as a cheaper option comes around people will just jump ship.

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Any slides will be shared as well?

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Thank you for the great write-up - from those of us who missed out this time!

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Thanks for waiting for us to get this all pulled together. Weā€™ve got a collection of video clips with all the key parts from the event on Monday evening, including the Q&A.

We had a great time and are looking forward to hosting another meet-up soon, with our CTO Shahid!

As always, remember that when you invest your capital is at risk. Eligibility to invest into an ISA or SIPP, and tax treatment both depend on personal circumstances and all tax rules may change.

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Is there a section going through the questions we asked? I asked about a community moderator, would be good to hear back about this, as I think it would be really helpful and get the community back functioning the way it was.

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Yep coming up. Just needed a couple of tweaks to that video, @Emmie

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Updated! Though video seems to still be processing for the Q&A so give it a minute or two :pray:

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Thanks @ acamp. Some great questions and answers from the management team.

Apologies if I missed this, my questions were, what is the current valuation of the company and what is the most likely route and timescale for shareholder exit.

My reason for asking is for estate planning. I have taken early retirement and today is my last day of work.

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Congrats, @Dashriprock!

In terms of a valuation, this is tricky given that weā€™re a private company and our shares donā€™t trade regularly on an exchange (this is the normal way that a valuation is set).

Otherwise, a private company like Freetrade usually has a valuation set when there is an equity raise.

In terms of a route and timescale to exit, this is also a bit difficult to be clear on at this stage Iā€™m afraid. With our Series B, investors had the chance to sell some or all of their shares if they wanted to and we may (if possible) offer a similar option in the future. Itā€™s important to emphasise, though, that this is not guaranteed.

If youā€™re unsure how to proceed when planning for your retirement, it might be sensible to consult with a financial adviser.

Apologies we canā€™t offer further clarity now, but hope that helps!

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The very best for your retirement Garry (slightly jealous haha).

I suspect that the route and timing of an exit will remain impossible to know until, one day, it suddenly drops into place with a trade sale announcement or a date for a stock market listing! Until then, we wait and hope.

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Thanks for the kind words @acamp and @rod.

Letā€™s keep supporting Freetrade and with time and a bit of luck they are able to achieve their mission to get everyone investing for the long term.

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Congratulations :partying_face:
The FT Ā£1bn IPO would have seen my early retirement too. Looks like Iā€™ll be working for a while yet.

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@Dashriprock I think I read somewhere possibly from @adam that they have not ruled out a funding round n the next 6-12 months,in which case if it isnā€™t an ASA or convertible(donā€™t know if they are the same thing) then you might get a valuation.

My own personal opinion is that in 2024/25 they will IPO or be acquired by Robinhood or similar at a valuation of no less than Ā£1 billion
Only a couple more years @Jim_mcgrain

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Thanks for the update @MohammedMohammed!

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I must say that after watching all those video clips, Iā€™m happy with Freetradeā€™s progress and what they have planned for the future.

Thanks for hosting the meet-up and sorting out the clips.

Looking forward to making use of direct debits and auto-pilot.

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@acamp I notice it said about voting in US stocks soon any news on voting on the UK stocks?

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Thank you for posting details from the event. I joined Freetrade standard in September last year as a new investor and it is reassuring to hear about the direction that the company is taking, which has definitely eased my concerns.

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Alas I think the chances of making the necessary F.U. Ā£s from my FT investment are receding by the month ( and I was in @ 52p :slightly_frowning_face: )