Exclusive: Freetrade loss totaled £13.9M in 2023
Freetrade’s 2023 (12-month) Revenues were £21.6 million, up 45% from £14.9 million in calendar 2022.
Freetrade’s 2023 (12-month) Revenues were £21.6 million, up 45% from £14.9 million in calendar 2022.
Stake launched services for UK clients in 2020, but has decided to focus primarily on its Australia and New Zealand operations.
Adam Dodds has been the only CEO Freetrade has known since co-founding the company in 2016.
Freetrade is an app-based stockbroker, providing an execution-only trading platform to retail customers.
Freetrade said that this round is all about “doubling down” on its growth by upping its investment in UK customer acquisition.
Freetrade recently raised an additional £30 million in funding, in the form of a convertible loan.
Freetrade last raised funds in a November 2021 crowdfunding exercise, which valued the London based company at £650 million.
Competition has increased significantly over the past 12 months in the UK between CFD (or “Forex”) and shares brokers.