IG Group Holdings plc has acquired Freetrade, a self-directed investment platform, for £160 million. This acquisition will enhance IG's offerings in the UK trading and investment sector and allow them to tap into a broader target market.
Freetrade, launched in 2018, has quickly established itself as a significant player in the UK investment landscape. It boasts a customer base of 720,000 and manages assets worth £2.5 billion as of the end of 2024.
The acquisition of Freetrade by IG Group Holdings plc will see Freetrade continue to operate as a standalone business. The existing management team and brand identity will be maintained. The deal is expected to close in mid-2025, subject to regulatory approvals.
This acquisition will enable IG to expand its offerings in the UK trading and investment sector. With Freetrade's established customer base and assets under administration, IG will have access to a broader target market.