Investing.com — IG Group (LON:) on Thursday, in a stock exchange filing, said that it will buy Freetrade, the UK-based commission-free investment platform, for £160 million.  The deal is set to increase the online trading provider’s offerings in the UK trading and investments market, allowing the company to tap into new customer segments and expand its capabilities.  Freetrade, founded in 2018, has quickly become one of the UK’s fastest-growing …

Investing.com

IG Group to buy Freetrade for £160M to strengthen UK trading offering

U.K. Robinhood rival Freetrade has been acquired by IG Group for £160 million — a 29% discount to its last valuation.

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UK Robinhood rival Freetrade snapped up by trading firm at 29% valuation discount

IG Group is paying less than a quarter of the price that Freetrade tried to raise funding at in 2022, sparking a backlash from some of its earliest investors, Sky News understands.

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Freetrade faces investor backlash over £160m IG Group sale

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Brokerage firm IG Group acquires UK trading app Freetrade for £160M; Freetrade raised ~£30m via crowdfunding and was valued at £650m in 2021 during the pandemic

Crowdfunding investors in UK startup Freetrade will see a financial return after the commission-free trading app was today acquired by the listed trading platform and spread betting group IG Group in a £160M deal.
Freetrade, founded in 2016, is one of several mobile trading apps, along with…

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Following the acquisition by IG Group, Freetrade is facing backlash from its early investors as the £160 million cash deal was more than a quarter lower than its previous fundraising valuation, Sky News reported.Significant Valuation CutHowever, a Freetrade spokesperson pointed out that the sale returned early investors 15 times their investments. The Series A round investors received an average return of 2.7 times their investment, while Series…

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IG Deal Cuts Freetrade’s Valuation By Over a Quarter: Shareholders Backlash

Investment platform Freetrade has been acquired by FTSE 250 firm IG Group Holdings plc in a deal worth £160m. The acquirer, a derivatives trading firm, said the transaction – all-cash and funded by existing resources – will strengthen its UK trading and investments offering. Both firms are headquartered in London. Freetrade – which was said to be coveted by JP Morgan in 2022 – gives investors access to more than 6,200 global stocks and ETFs, fra…

BusinessCloud.co.uk

Listed group acquires Freetrade for £160m

IG Group has announced the acquisition of commission-free, self-directed investment platform Freetrade for £160 million in a move that strengthens IG’s UK trading and investments offering and provides access to new customer segments and capabilities. Providing a wide range of products, including over 6,200 global stocks and ETFs, fractional shares, UK Treasury bills, ISAs, SIPPs, securities lending, and proxy voting, Freetrade offers a user-frie…

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IG Group Acquires Freetrade For £160 Million - FinanceFeeds

The Freetrade application on a smartphone and desktop PC. Freetrade 
LONDON — Freetrade, a British rival to popular stock trading app Robinhood, said Thursday that it’s been acquired by online investing platform IG Group. The deal values Freetrade at £160 million ($195 million) — a 29% discount to its last valuation. The startup said that it would continue to operate as a commercially standalone entity under its own brand. Founded in 2016, Freet…

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The move is expected to bolster IG’s trading and investment offerings in the UK, helping to expand its reach to new customer segments and enhance its technological capabilities. The deal will be funded in cash from IG’s existing capital resources. Completion is expected in mid-2025. Breon Corcoran, CEO of IG, said it is a “rare opportunity to strengthen IG’s UK trading and investments offering,” while also expanding its target addressable market…

IG Group to buy Freetrade for £160M to strengthen UK trading offering

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