Home Trading Freetrade sees a jump in revenue to £12.7 million in FY21 LeapRate

Freetrade sees a jump in revenue to £12.7 million in FY21 LeapRate

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UK and EU brokerage platform Freetrade has released its consolidated report of its business for the financial year 2021, ended on 30 September.

The firm reported revenue of £12.7 million for the financial year. This was a 647% jump from the previous year’s £1.7 million revenue.

This was attributed to the tripled trading volumes during the period which reached £3.3 billion. Compared to the previous year’s £0.8 billion, the numbers were 313% higher.

Freetrade

The number of registered users also rose significantly during FY21, with 637,895 new traders on the platform. The year ended with a total of 886,743 users and 256% increase compared to FY20.

Freetade also revealed that by the end of 2021, the numbers of users surpassed 1 million.

The firm recently announced raising £30 million from existing and new investors in its latest funding round.

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