Lucky you to have known about Freetrade as early as in R1, I am genuinely jealous!
I believe a valuation of circa £40-50m in R4 would be quite prudent if it happens before the end of Q2 this year. In the future, the decisive factors for further valuation increase are likely to be Freetrade’s user growth and income generation (the latter mostly).
Unlike Uber and similar marketing-heavy tech firms, I don’t see (or rather hope not to see) Freetrade’s operational expenses rising faster than the revenues in the mid-term and I would be very surprised if it is not profitable within the next five years or so considering the potential scalability and the Team’s utter dedication to building this service.
By then, should all go well, I hope for a £1bn valuation by 2024 and maybe a potential IPO exit route within another three years or so.
In either case, none of this is based on any data, only my personal investor’s biased thinking. I simply want the best quality retail stockbroker and, just as any other community member, a healthy growth in the firm’s user satisfaction, valuation, and world-wide recognition.