eToro Group Ltd, the social investing network, disclosed the recent completion of a $250m funding round at a valuation of $3.5 billion.
Backers included ION Group, SoftBank Vision Fund 2, Velvet Sea Ventures, and a number of existing investors.
Founded in 2007 and CEO Yoni Assia, eToro is a social investing network that empowers people to grow their knowledge and wealth as part of a global community of investors. Today, it is a global community of more than 30 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful.
This funding came from an Advance Investment Agreement (AIA) which eToro entered into in February 2021 as part of its proposed SPAC transaction.
- The company also acquired options trading app Gatsby to continue the diversification of eToro’s US offering after the launch of stocks and ETFs, and Bullsheet, a provider of portfolio management tools designed exclusively for eToro users.
eToro is also expanding its global footprint by partnering with regulators around the world in the evolution of the digital assets ecosystem securing registrations in France, Italy, and most recently a licence in New York. It also secured an in principle approval to operate as a broker in Abu Dhabi.
FinSMEs
22/03/2023