{"id":34,"date":"2025-02-24T19:40:46","date_gmt":"2025-02-24T19:40:46","guid":{"rendered":"https:\/\/dailycrowd.io\/?p=34"},"modified":"2025-02-24T19:40:46","modified_gmt":"2025-02-24T19:40:46","slug":"freetrade-acquired-by-ig-group-for-a-modest-160-million","status":"publish","type":"post","link":"https:\/\/dailycrowd.io\/?p=34","title":{"rendered":"Freetrade Acquired by IG Group for a Modest \u00a3160 Million"},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>1 Minute, 14 Second                <\/div>\n\n            <\/div><p>Freetrade, the investment platform allowing self-directed trading, has struck a deal to be acquired by IG Group, which is listed on the London Stock Exchange, for \u00a3160 million.<\/p>\n<p>Freetrade has reported a significant increase in assets, with a 52% rise leading to \u00a32.5 billion in Assets Under Administration (AUA) by the end of 2024. The company also achieved a 32% growth in revenue compared to 2023, culminating in an EBITDA of \u00a32.1 million for the fiscal year 2024. However, the business has encountered challenges, resulting in a valuation drop of 65% in 2023, falling from a peak of \u00a3650 million to \u00a3225 million, largely attributable to adverse economic conditions. In a move to tighten its financial position, Freetrade reduced its workforce by 15%, laying off roughly 45 employees from its 300-strong team, and subsequently closed its sole international arm in Sweden to concentrate on the UK market.<\/p>\n<p>Investors from Crowdcube may see minimal returns from this acquisition, with Series B3 shares valued at just \u00a32.60 each at the highest.<\/p>\n<p>Freetrade&#8217;s co-founder and CEO, Viktor Nebehaj, expressed appreciation for the support received from crowdfunding investors throughout the firm&#8217;s journey. He emphasized that the partnership with IG Group, with its robust resources and support, presents a thrilling opportunity for Freetrade to expedite its growth and enhance its range of products and features.<\/p>\n<p>Under the terms of the acquisition, Freetrade will maintain its operations as an independent entity, continuing to function under its established brand.<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Freetrade, the investment platform allowing self-directed trading, has struck a deal to be acquired by IG Group, which is listed on the London Stock Exchange, for \u00a3160 million. Freetrade has reported a significant increase in assets, with a 52% rise leading to \u00a32.5 billion in Assets Under Administration (AUA) by the end of 2024. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":35,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-34","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"_links":{"self":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/34","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34"}],"version-history":[{"count":0,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/posts\/34\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=\/wp\/v2\/media\/35"}],"wp:attachment":[{"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailycrowd.io\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}