News believes that Freetrade, which has approximately 750,000 users in Britain, wants to inform customers on Friday that it is winding down operations in its sole overseas market.
According to company insiders, revenue increased by 35% from the first six months of 2023, while costs were reduced by £2.5 million during the same period.
Freetrade last sought funds more than a year ago and is now aiming to become cashflow positive on a long-term basis in order to fund its own expansion.
In response to a News inquiry, Viktor Nebehaj, CEO and Co-Founder, stated: “After careful consideration, we felt it was best to focus our resources on growing our market share in the UK’s self-directed investment market.”
“As CEO, I am committed to keeping our team focused on completing projects that will generate significant shareholder value.
“Right now, Freetrade is in its best financial situation in history.
“It’s more vital than ever to concentrate on our core business and its immense growth opportunities.
