The British FinTech FreeTrade tries to double the assessment during fundraising

The British FinTech FreeTrade will be evaluated of 650 million

in a new crowdfunding round

The group started its seventh public financing round since its foundation in 2016. The start-up, based in London, recently collected money from traditional risk capital investors worth £ 270 million in March.

The strong increase in the evaluation of FREETRADE is due to the fact that the stock trading in retail is booming during the Covid 19 pandemic and Robinhood brokers in the USA gave a rush to younger customers and new cash for established actors such as the British Hargreaves Lansdown.

Customers opened 7.1 million investment accounts in the first 12 months of pandemic in the first 12 months, according to the latest figures from the Financial Conduct Authority.

FREETRADE, which recently a fortune of over 1 billion

Adam Dodds, CEO of FreeTrade, the Financial Times said in September that the “Battlefield Europe” will be released under the investment apps next year.

"What we have seen in the past two years is that the theory that Europeans do not invest and are not interested in the stock market is wrong," he said.

FREETRADE - which has over 600,000 funded accounts, compared to 150,000 at the beginning of the year - will probably generate £ 15 million this year, compared to £ 3 million in the previous year. However, there was still a loss of £ 26 million before interest, taxes, depreciation and amortizations, as technology and marketing continued to be invested.

The company that raises investors for their trade and offers a monthly premium subscription, said its new evaluation goal corresponds to a multiple of 13 times the forecast income for 2022, without new business areas such as trading in cryptocurrencies. It is planned to start this in the new year and compare the steps of colleagues such as Revolut, Germany's Scalable Capital and Robinhood in the USA.

The French mobile payment app Lydia said this week that it would enable its 5 million users to trade cryptocurrencies as well as stocks, ETFs and precious metals. "Driven by pandemic, trade in private investors has found an unprecedented appetite," said the company.

The advance in crypto for FreeTrade is contrary to a campaign by the British supervisory authorities in order to discourage risky investments among private customers. The FCA said that it wanted to get into digital tokens that fewer first investors start and has said that clever trade apps "[make] make it easier for consumers to make bad decisions"-which indicates the strong increase in registrations during the enthusiasm for US memory in January.

FREETRADE counts 13,000 single shareholders as the largest group of owners, in addition to risk capitalists such as Left Lane Capital and Molten Ventures, formerly known as Draper Esprit.

It said that it will open its crowdfunding for European investors for the first time because it is supposed to raise up to £ 13 million. The company hopes to introduce services across Europe next year until the official approval by the Swedish authorities is available.