Neobroker Freetrade Boss Adam Dodds Departs, Replaced by Co-Founder Viktor Nebehaj

​(Adam Dodds, Source: Freetrade)

Fazzaco learned that Adam Dodds, the chief executive officer of the UK stock trading app Freetrade, is leaving the company with immediate effect. Adam has taken the reins for over eight years, and co-founder Viktor Nebehaj will take over the ralm as CEO.

Currently, Viktor serves the cmpany as chief operating officer. His new appointment is now pending customary regulatory approvals.

Freetrade has moved slowly over the last couple of years and hopefully under new leadership it can accelerate its growth.

In the first three months of 2024, the firm delivered its first-ever quarter of profit, with preliminary revenues reaching £6.7 million. Freetrade incurred an annual loss of £8.3 million in 2023, compared to £28.8 million loss in the prior year.

"When reflecting on the journey from idea to over a million users with billions in assets, it's getting through the tough times you remember the most. We almost died so many times it's hard to count," said Adam. "Now, after putting up our first profitable quarter and with the business on a strong sustainable footing, it's time to hang up my skates. Freetrade is default alive and ready to take on the incumbent platforms in the UK with self-sustaining growth."

"I'm very happy to say Viktor will be stepping up to take over the helm as CEO. He'll lead us to the next destination on our journey and beyond. I'll be doing everything I can to support him and the company from the board," he added. "As for me I'm looking forward to getting to know my kids better, annoying my wife on the farm, and finally getting my pilot license."

"With our first profitable quarter behind us, I’m excited about the size of the opportunity ahead," Viktor said. "Our talented and high-quality team is building the right product for our customers."

Freetrade is cooking up plans to introduce new products including bonds and mutual funds, tax wrappers, and its web platform, as well as grow its core profitable UK userbase.