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IG Group Holdings PLC on Thursday said it will acquire digital investment platform Freetrade. The London-based online stockbroker paid GBP160 million for the financial technology company, also based in London. Freetrade launched a commission-free, self-directed investment platform in 2018 and according to IG Group, is leading the UK's emerging direct-to-consumer investment market. The platform gives its 720,000 customers access to around 6,200 global stocks and other types of securities. Assets under administration totalled GBP2.5 billion at the end of 2024, and full-year revenue rose in 2024 to GBP27.5 million, up 32% on-year.
"This is a rare opportunity to strengthen IG's UK trading and investments offering and broaden our target addressable market," noted Breon Corcoran, IG Group's chief executive officer.
