London based stock trading app Freetrade has raised £300,000 in equity crowdfunding through the Crowdcube platform. Freetrade describes itself as a mobile app that’s designed to let users invest in stock markets around the world with zero commissions or fees.
The company secured £169,980 through its first Crowdcube campaign last year. Following the closing of the initiative, Freetrade was selected to join Octopus Labs’ fintech accelerating program. As previously reported, the twelve-week accelerator program, which was launched last year, saw Octopus support five startups, each developing fintech products for financial advisers and their clients. Speaking about its success since the first Crowdcube campaign, Freetrade stated: “Since our Crowdcube SEIS raise in July 2016 (170% overfunded in 12 days), we have obtained FCA regulatory cover as an appointed representative, set up our capital market service providers and developed our first product for beta release. We won Apps World London, have been backed by Octopus in their accelerator and without any ad spend, we’ve attracted over 4,500 members to our waiting list.”