Freetrade Achieves First Half-Year Profit

British investment platform Freetrade has reported its first half-year of profitability.

• The company experienced a 34% increase in revenue, totalling £13 million.
• Assets under administration grew by 33%, contributing significantly to revenue growth.
• CEO Viktor Nebehaj emphasised the accelerated pace of execution and efficient team management.
• Freetrade withdrew from Sweden to concentrate on the UK market.

British investment platform Freetrade recently reported its first half-year of profitability, marking a significant milestone since its inception in 2016. The company, known for its commission-free investing app, experienced a substantial 34% increase in revenue, rising to £13 million compared to the first half of 2023.

This impressive revenue growth was accompanied by a turnaround in financial performance, as Freetrade transitioned from an adjusted loss of £5.6 million in the same period last year to a gain of £91,000. A crucial factor contributing to this positive outcome was a 33% rise in the company’s assets under administration.

Freetrade’s CEO, Viktor Nebehaj, attributed the company’s success to an accelerated pace of execution and a lean, efficient team structure. “We have the people and purpose-built tech that positions us to transform how individuals manage their life savings,” stated Nebehaj. Having taken on the CEO role in May, Nebehaj succeeded company co-founder Adam Dodds.

Reflecting on his initial months as CEO, Nebehaj identified significant opportunities for Freetrade within the rapidly changing UK investment platform market. He noted that the company is well-positioned to advance its growth, stating, “But we’re not stopping there. We’re just scratching the surface of a rapidly changing investment platform market in the UK and we are positioned to seize opportunities to take our growth to the next level.”