After Crowdcube glitches Freetrade shutters £1.9m crowdfunding round, announces new round in June
“It allows Crowdcube the time needed to build and test a solution to the load issues experienced.”
After smashing its £1m target to raise £1.98m on Crowdcube, commission-free stock trading app Freetrade has pulled the plug on its crowdfunding round early after Crowdcube was unable to handle the demand.
“It allows Crowdcube the time needed to build and test a solution to the load issues experienced,” said Dodds.
CMO Viktor Nebehaj posted on Freetrade’s community forum that there might be a slight difference in share price/valuation for the next round, but that it wouldn’t be “meaningfully different” from the £36m that the company was valued at last week.
“No one should feel like they missed an opportunity to invest,” added Dodds, explaining that some interested investors can still invest in the current round by purchasing shares in a private sale from earlier investors.
“You’ll have at least a week to express interest [in a private sale], no rush (we don’t want to crash the site again).”