Freetrade Closes on $15Million Funding in 2019

Trading Systems
04.11.2019 06:01 am

Commission-free stockbroking app Freetrade has closed a $15m fundraising round, comprising a $7.5m Series A investment from Draper Esprit and an equity crowdfunding rise of $7.5 million completed earlier this year.

Targeting the millennial market, Freetrade claims to have picked up 50,000 customers in the year since launch.

The UK-based company is currently working on the development of a new investment platform that will give users the option to purchase fractional shares in UK and European stocks, ahead of a wider push into the EU market.

CEO and founder Adam Dodds says: "From the beginning, we’ve been focused on making Freetrade the home screen app for investing. With this investment, we’ll be able to level up our team and further develop our proprietary technology that will enable us to launch our new investment platform, providing users with the option to purchase not only US but UK and European fractional shares”