Adam has stated in one of the update answers that the limit is actually 8m euro. The exchange rate move has made that a bit more than 7m Sterling now. (Plus the allowance for dropouts point) … but great raise 
Edit. And to be clear the euro 8m is the Regulatory limit for raise without a prospectus
Great stuff. All in all a great raise in these times.
Your company cannot raise more than £5 million in total in any 12-month period from EIS.
Still don’t see how FT is getting around the £5m EIS cap in any 12 month period…
Maybe perhaps by not taking the money until after a year and a day from round 6 in 2019?
It’s £10 million for knowledge intensive companies so not an issue.
Is Freetrade knowledge intensive…
I love free trade but not sure I would put them under that category myself
It’s definitely knowledge intensive. You can see the criteria in this accessible SeedLegals guide.
To add to this, I remember seeing a post from Adam on how much you needed to invest this round to prevent dilution. A nice and round 5% was assumed in that equation.
The 5% equals a £7.368mm raise:
X= 5%(140+X)
=> X=7.368
Thanks for all your support!
That’s been a great round, £7m from nearly 9,000 investors!
Congratulations team!
Well… that looks more and more like an IPO lol
Impressive, congrats Freetrade on the execution and success of the campaign. Thanks for answering all questions and being so transparent with your users and shareholders
I have read the criteria and not sure it is that obvious.
Reading that I would struggle to find a company that wasn’t a KIC
Congratulations, team. A well deserved achievement.
So it looks like dilution is slightly less than 5% (4.83%)? Can anybody clarify please? I’m trying to calculate how much I own from a previous round in combination with this round.
I would also like to know the number of investors from previous rounds if anybody has them.
Just out of interest, how are you calculating that?
On the EIS stuff, yes, we are a ‘Knowledge Intensive Business’, which means we have a higher annual and lifetime limit for EIS. The key criteria is that we spend a lot on R&D.
Isn’t it going to be shares_you_own / total_shares_of_the_business ?
Sorry, I should have been clearer.
I mean how do you know how many shares there are in Freetrade?
