Pros
There is a great camaraderie between people without any obvious egos leading critical decisions on projects. I work in the Product / Engineering / Design space, and we're divvied up into different product areas within the app itself. This gives a fair amount of ownership to dive deep, even if it is narrower than you might expect.
Cons
The company has tripled in size within the last 12 months (now over 300), and as such they don't yet have the types of processes nailed down you would normally expect of a company this size. What that means is there are a considerable amount of projects that have been started but are shelved for newer priorities. This is a fairly normal behaviour, but happens more often at Freetrade than in my previous experience. Cross-team projects can also be a bit complex. With each team narrowly focused in their area of the app, a project that touches multiple areas (e.g. onboarding, investing, pensions) can disrupt OKRs and create frustration in Product Managers. This is starting to create silos where some teams look to deliver the minimum amount of work for cross-team projects so they can focus on their own priorities (sometimes unintentionally at the detriment of the wider customer experience).