Freetrade is on track to exceed its target after crowdfunding for just a day.
The FinTech is crowdfunding on Crowdcube.
It raised £4.5mn from 5000 people in four hours.
The figure then rose to £5mn last night.
What does this mean?
Freetrade has seen a huge increase in use since the Covid-19 outbreak, with trading volumes on its platform doubling in February and March. It now has 150,000 customers. The business plans to use its funding to develop new products and continue to drive growth, and says raising via Crowdcube brings a “loyal community” as well as capital.