Freetrade sees assets under administration hit £1bn

Just three weeks after hitting one million customers, Freetrade has reached another milestone.

The trading and investment platform has surpassed £1bn in assets under administration after just three years in operation.

As it stands, Freetrade is the second largest retail broker by the number of trades on the London Stock Exchange.

“It’s humbling that our customers have entrusted over £1 billion in assets with us. We built Freetrade to make investing more accessible, supporting our customers in making decisions that should benefit their finances over the long term,” Adam Dodds, CEO and co-founder of Freetrade, said.

“We’ve brought simple investing to hundreds of thousands of customers for the first time. And we’re going to carry on this momentum with renewed dedication to a clear belief: investing should be accessible to everyone.”

Over the past year, Freetrade has launched its own pension, subscription plans, grown its headcount to over 200 and added a host of new features to its app, including fractional shares and live pricing.

Freetrade also recently teamed up with fellow fintech Monzo to offer the digital bank’s Plus and Premium customers three free shares when they sign up to a Freetrade account.