Freetrade, an app-only stockbroker service designed to democratise access to the stock market by offering zero commission on global transactions, has raised GBP1.1 million within 12 days of its second Crowdcube crowd fundraising campaign.
This is over 360 per cent of its GBP300,000 fundraising target.
The funding raised will be used to support the first year of operations.
Freetrade will be launched in 2017 and will be available on iOS, with an Android app to follow later this year.
It offers commission free access to global shares as well as fractional shares, which is a share of equity that is less than one full share. Without fractional shares, it would cost GBP691 to buy one share of Alphabet.
To date, it has raised GBP1.3 million through two crowdfunding campaigns in less than 10 months.
Currently there are over 6,000 people on a waiting list ahead of the full launch of the product.
