All articles

Squirrel and Freetrade seduce investors, blast fundraising targets

March 01, 2017

Squirrel and Freetrade seduce investors, blast fundraising targets

Shortly after completing Octopus Labs inaugural accelerator program, both Squirrel and Freetrade exceeded their funding goals. Squirrel’s 65 initial backers invested an average of £6,844 each, surpassing their target by 116%. Freetrade’s 1,200 investors utterly destroyed their £300,000 target, raising £1.1 million at the close of their campaign. 

Freetrade is a mobile app designed to let users invest in stock markets around the world, with zero commissions or fees. Squirrel is a personal financial management and savings solution that helps people regain control of their finances.

Freetrade achieved their recent 2017 funding through Crowdcube, an online crowdfunding platform. In 2016, Freetrade used Crowdcube to gain early funding. Those funds, along with the mentorship and resources provided by Labs, enabled Freetrade to develop their product, gain FCA regulatory cover and enroll over 4,500 members.

Squirrel organized their crowdfunding effort through SyndicateRoom, the online platform that invented the investor-led model of equity crowdfunding. “With the funds raised via SyndicateRoom, we aim to expand our customer base even further and diversify our product offering,” stated Mutaz Qubbaj, Squirrel CEO and Co-founder.

Both companies are brilliant examples of Octopus Labs’ commitment to disruption the financial industry’s status quo. They have created products and services that will likely change the way the average person saves and invests. The significance of that simple mission has not been lost on the many investors who have enthusiastically offered their funding.