London-based Robinhood rival Freetrade buys UK arm of Australian investing platform Stake

Published On Oct 1, 2024, 4:00 AM

Freetrade, a British online trading platform, has acquired the UK customer base of the Australian investing app Stake. This acquisition comes as Stake refocuses its operations on Australia and New Zealand after deciding to exit the UK market. Freetrade aims to expand its services and strengthen its position against rising competition, particularly from U.S. firms like Robinhood. Freetrade has seen recent success with profitability in the first half of 2024 and aims to grow further by capitalizing on this acquisition.