Freetrade’s 2022 revenue exceeds £15.6 million, but losses also increase

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Freetrade" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/05/Freetrade.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><p>Freetrade also successfully raised a significant amount of funds in the <a href="https://www.leaprate.com/forex/brokers/freetrade-sees-a-jump-in-revenue-to-12-7-million-in-fy21/" target="_blank" rel="noopener">previous year.</a> It secured £8 million through a crowdfunding round, with the participation of 6,869 investors from the UK and Europe. Additionally, two institutional shareholders of the company <a href="https://www.leaprate.com/forex/brokers/freetrade-raises-30m-in-latest-funding-round/" target="_blank" rel="noopener">invested</a> £29.3 million through a convertible loan note.</p>
<h2>A jump in registered users</h2>
<p>Last year, the platform experienced a 51% surge in registered users, surpassing 1.33 million compared to 886,743 at the previous year&#8217;s end. The company attributed this growth to a strategic investment in marketing, including a large-scale out-of-home campaign, along with continuous investment in the highly efficient &#8216;free share&#8217; referral program.</p>
<p>The increase in new users had a positive impact on trading activities. The platform witnessed a net influx of new funds amounting to £598.4 million, surpassing the £552.4 million achieved in 2021, resulting in a total opening of £897.5 million. Furthermore, the overall trading volume on the platform experienced a 9% increase, totaling £3.6 billion.</p>
<p>The firm emphasized that despite a decline in global market indicators last year, there was a notable rise in trading demand.</p>
<p>The filing said:</p>
<blockquote><p>Looking ahead to the next financial year, we continue towards our mission to get everyone investing… Teams remain dedicated to developing new features and products for the UK and European countries that will further enhance Freetrade’s value proposition and add potential revenue streams in a competitive market.</p></blockquote>
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