Draper Esprit : joins $69m Series B round in portfolio company, Freetrade

Draper Esprit is pleased to join the $69m Series B round investment in Freetrade. The round was led by Left Lane Capital, a New York based private equity firm with L Catterton also participating. Freetrade intends to use this injection of capital to supercharge its expansion and product development.

Draper Esprit initially invested in Freetrade's Series A round in October 2019. We were impressed with their strong community, using Crowdcube to raise $1.2m in 77 seconds, and how closely their mission aligned with our belief that investment should be democratised and open to all.

Managing Partner,Will Turner, commented:

'We have seen the impact that investment platforms can have on public markets in the last 12 months, but we are proud that Freetrade remained focused on acting in the interests of its customers - everyday investors and traders. We continue to believe in democratising access to the markets and are delighted to welcome Left Lane Capital and L Catterton to the journey, as we fuel the continued explosive growth of Freetrade.'

FreetradeFounder and CEO, Adam Dodds, said:

'Draper Esprit has been an incredible supporter of our mission to get everyone investing. This funding round will accelerate our growth across Europe and allow us to launch even more features for our product. As we scale-up, to serve millions more across Europe, we are remaining laser focused on building a product that will help our customers achieve better financial outcomes.'

Posted on 23 Mar 2021

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