Artis Partners LLP, newly formed by Victor Basta (former co-head of Broadview, founder of Arma Partners and DAI Magister) and a group of senior colleagues is pleased to announce that an Artis deal team led by Managing Partner Stephen Bachmann (also ex-Broadview and DAI Magister), has successfully advised Freetrade on its pending £160m sale to IG Group Holdings plc [1]. More deal details can be found in the following press release from IG Group (see link). The transaction values Freetrade at 5.8x CY 2024 revenue (on an enterprise value basis) and at 6.4% of its £2.5bn AUA [2] at year end 2024; it is an all-cash transaction to Freetrade shareholders.
Since its launch in 2018 when Freetrade pioneered free share trading in the UK, it has grown into a leading self-directed investment platform for UK investors, particularly those focused on longer-term investing via tax wrapper products and seeking US equity exposure. IG Group provides online trading platforms and educational resources; the combination creates a leading service investment destination for UK consumers trading in the capital markets.
The transaction is notable for several reasons:
- The asset management industry is being reshaped as wealth transfers to a younger customer who expects more control over their investments and has developed a digital relationship with money.
- This intergenerational shift has made once pioneering fintech startups like Freetrade, after a decade of development, attractive acquisition targets for incumbents looking to expand their offerings to a younger customer base.
- Beyond validating these platforms’ strategic value, the recent uptick in public market activity, driven particularly by US technology leaders, signals a broader transformation. This shift is redefining how financial services will be delivered as the sector moves mainstream and consolidates around integrated product offerings.
The transaction is further evidence of Artis Partners’ commitment to supporting fintech and wealthtech businesses looking to expand via strategic M&A and larger fundraises. The firm’s deep expertise in the sector continues to develop, building on work the Artis team has undertaken for businesses as diverse as Nutmeg and Tandem Bank.
Notes
[1] Advisory services were provided by Stephen Bachmann and other current/future Artis staff while at DAI Magister. Completion is subject to customary conditions including regulatory approvals but currently expected in mid-2025.
[2] Assets under administration
For more information please contact:
Stephen Bachmann
