Hi everyone 😀
It looks like Freetrade is going to be the highest profile raise in May, so I thought I'd see how the appetite is among the first users here at Crowdfeed?
Freetrade has made good progress since the last raise, with user numbers now exceeding 150,000, US fractionals in Beta testing and the rollout earlier this year of their Invest platform. Also, they have done very well in recent months during the pandemic with new users seeming to accelerate during it.
I invested in Rounds 4 and 5, and will likely put some money in again in this round. One concern I have with this raise though is how much they stretch the valuation - Freetrade has already stated that they intend on a VC round later this year and if the outlook turns a little negative for them before then and the VC appetite reduces, a down round (or a flat round while having a greater user numbers) wouldn't look good or be good for momentum. I think a valuation of £100m would be sensible now, given the economic uncertainty with the pandemic.
Would be great to know what others are thinking?