Crowdcube invests £7.1m in Freetrade

The funding website shows the company had an initial target of £1m for 4.63% of the equity in the company for a share price of £2.51.

The co-founder and CEO, Adam Dodds, said the company was looking to raise $20-50m in a series-B in 2020, according to Unquote sister publication Mergermarket.

Previous funding
From March 2017 to June 2019, Freetrade raised four crowdfunding rounds, the sum total of which was almost £10m.

In October 2019, the company announced that it had raised $15m in its series-A, led by a $7.5m investment from Draper Esprit.

Company
Founded in 2015 and based in London, Freetrade reported an operating loss of £1.3m in the year ending on 30 September 2018. The company is an FCA-regulated online stock broker.

People
Freetrade – Adam Dodds (CEO).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Crowd funding
• Draper Esprit