Freetrade has launched ‘share lending’, a new service powered by Sharegain that enables its clients to generate passive income from lending their stocks and ETFs.
The commission-free investment platform was able to launch its securities lending program with no upfront costs and no additional headcount.
Sharegain’s technology solution enables clients to launch programs that comply with the relevant regulatory requirements, including CASS and SFTR.
“Freetrade breaking down those barriers”
Anup Patel, Head of Customer Success at Sharegain, said: “We are thrilled to partner with the fantastic team at Freetrade and generate a new source of income for them and their clients. Securities lending has been a source of passive income for the largest financial institutions for decades. Today, with the launch of their securities lending program, Freetrade are breaking down those barriers and levelling the playing field – unlocking a new opportunity for private investors in the UK!”
Viktor Nebehaj, CEO of Freetrade, added: “Sharegain was the perfect fit for Freetrade’s vision of making investing accessible. Their innovative solution coupled with their expertise and white glove approach, made this launch a success. We are delighted to offer our customers a new way to make money from their investments.”
Viktor Nebehaj replaced Adam Dodds as CEO of Freetrade
Earlier this year, Adam Dodds, co-founder of Freetrade and the investment platform’s chief executive since its founding in September 2015 decided to step down from the executive role.
Freetrade was founded in September 2015 by Adam Dodds and Davide Fioranelli. Three years later, the company welcomed venture capitalist Molten Ventures to complete a $15 million Series A financing. The company’s $69 million Series B round was announced in March 2021, led by Left Lane Capital, with participation from L Catterton and Molten Ventures.
However, the company struggled to find new backers at a higher valuation in 2022 and had to resort to a convertible loan note supplemented by a further crowdfunded round and a staff reduction of around 15%.
Viktor Nebehaj, an early crowdfunding investor who joined the firm as chief marketing officer and became COO in 2022, was announced as the new CEO of Freetrade.
Before joining Freetrade in 2017, Viktor Nebehaj was Head of Growth at Notey, Head of Assessment at Clicz, and Head of SEO at Prospect.
He started his career at Google in 2005, based in Dublin, Ireland, where he was Search Quality Analyst for three years and Online Operations Manager, EMEA, for another three years.
Freetrade recently unveiled its latest offering: Cash Investments, a novel venture that introduces a series of GBP and USD exchange-traded funds (ETFs) designed to mirror or surpass overnight interbank interest rates. With this launch, Freetrade reaffirms its commitment to making high-value investing accessible to all. Rates go up to 5.33%.
