The company’s registered users went over 1.3 million in the UK. Freetrade’s revenue for 2021 increased more than six times £15.1 million, AUA surpassed £1 billion and trading volumes for the year were above £3.7 billion.
The announcement specified that the company raised the funds through a convertible loan note.
The company highlighted that the latest funding round strengthens the company’s balance sheet and provides it with capital to continue developing its product and meet customer needs in the UK and Europe.
The funding round follows a series of new features added to the company’s products, such as Freetrade Web, as well as securing a licence from the Swedish financial regulator, a strategic move in Freetade’s European expansion.
