Trading 212 UK Limited, a London-based FCA-regulated online broker offersing trading services with forex, company shares, and CFDs. Now, the company has secured £13.75 million in capital from its shareholders Borislav Nedialkov and Ivan Ashminov, who are also its co-founders.
Growth plans
As per Finance Magnates, the latest fundraising was made in late July and followed the £6 million of additional money that the shareholders put into Trading 212. With this, the total amount raised by the company so far in 2021 accounts for £19.75 million. In addition, Trading 212 raised £2 million in August 2020.
As per the latest filing, the broker has issued and allotted 13,750,000 shares on July 27. Each share was allotted at a nominal cost of £1. Besides these, the company noted that the newly issued shares were allotted in exchange for cash.
Trading 212 confirmed that the latest capital injection will be used to help support the growth in the business of the brokerage business. Like many of its online brokerage counterparts, Trading 212 witnessed a sharp uptick in all metrics over the past year.
Brexit effects
The trading platform that benefited from the retail trading frenzy during the skyrocketing demand for meme stocks was forced to shut new accounts as its infrastructure couldn’t cope up with the surge in demand. Also, it faced the brunt of Brexit and migrated its clients in the EU to Trading 212 Markets Limited operating with a CySEC license.
The post London’s stock trading app Trading 212 secures £13.75M funding appeared first on UKTN (UK Tech News).
