Freetrade, a London-based investment platform, announced that it has raised $ 69 million during a Series B funding round.
The company said that the funds will be used to accelerate its growth in international markets and allow the team to scale its product.
The funding round was led by Left Lane Capital, a growth equity firm focused on consumer internet and technology businesses.
Other investors include The Growth Fund of L Catterton, a global consumer-focused private equity firm, and LSE-listed venture firm, Draper Esprit.
The round includes primary and secondary investments. Final completion of the round is subject to FCA approval.
Freetrade reported that the fundraising follows a period of significant growth that saw its customer numbers hit 600,000, quarterly trade volumes exceed £1 billion, and the opening of offices in Sweden and Australia.
Adam Dodds, Founder and CEO of Freetrade said,
“This is a transformational investment that will supercharge our mission to get everyone investing. It’s painful to see millions of investors across Europe stuck paying high fees and bogged down by complex terms and conditions. The costs of offering essential services like share dealing are simply not justifiable and erode valuable returns.
Everyone already invests their time and their money on a daily basis, but there is so much more that millions can be doing to get the most out of their money. We are committed to helping everyone to achieve better financial outcomes.”
