IG Group Acquired UK Startup Freetrade in a €189Mn Deal

The acquisition is an important move for both companies. Freetrade is set to grow its operations, while IG Group expands its presence in the UK trading and investment market.

The deal is expected to close by mid-2025, once it gets regulatory approval.

IG Group says the acquisition will strengthen its trading and investment services in the UK and help it reach more customers by adding a strong brand in direct-to-customer trading and investments.

Going forward, Freetrade will remain an independent business with its own brand. The current management team, led by CEO and co-founder Viktor Nebehaj, will continue to run the company.

Viktor Nebehaj, CEO and co-founder of Freetrade said: “This is an exciting opportunity to accelerate our growth and delivery of new products and features on our award-winning platform. IG’s vision for Freetrade is closely aligned with our own and its backing will be of huge benefit as we continue to scale the business.”

Breon Corcoran, CEO of IG, said, "This is a rare opportunity to strengthen IG's UK trading and investments offering and broaden our target addressable market.Freetrade is one of the most successful emerging players in the UK direct-to-customer investment market, with a strong brand, highly scalable technology and delivering rapid growth. I am delighted that Viktor and his team will join IG and continue to lead Freetrade."

About Freetrade

Founded in 2018 by Adam Dodds, Davide Fioranelli, André Mohamed, and Breon Corcoran, Freetrade has become popular as a mobile-first platform for new investors.

The startup stands out by offering easy-to-use technology and no trading commissions, competing with established companies like Hargreaves Lansdown.

With 720,000 customers and €2.9 billion in assets, Freetrade will keep operating as an independent brand after the acquisition, which is expected to be completed by mid-2025.