eToro raises $100m to support global expansion and the development of blockchain-backed technologies

Fundraise follows a period of significant growth for the business which now has 9 million users worldwide

Former IronFX Head of Sales Zoltan Nemeth moves to eToro as Sales Manager

eToro, the world’s leading social trading and investment platform, today announced a Series E fundraise of $100 million to support its expansion into new markets as well as its continued research and development of blockchain technology and the digitisation of assets.

Led by China Minsheng Financial, the round of funding was participated in by SBI Group, Korea Investment Partners, World Wide Invest and other investors. Rothschild acted as the exclusive financial adviser to eToro.

eToro joined the London Stock Exchange’s ELITE programme in 2015 and completed its capital raising with the support of ELITE Club Deal, London Stock Exchange Group’s private placement platform.

The new investment brings the total capital raised by the business to $162 million and follows a period of significant growth for the business driven, in part, by demand for investments in the cryptocurrency market.

Commenting on the fundraise, Yoni Assia, CEO and founder of eToro, said: “eToro was built with the vision of democratizing financial markets by making trading and investing accessible to all. Since launching, we’ve seen strong customer demand for our approach and today’s announcement is an important milestone in marking the success that we’ve had and signalling a new period of growth and expansion for our business.

“This round of investment will be critical in helping us to further develop our technology infrastructure to support the rapid growth that we’ve recently experienced. It will also help us to enter new markets, enabling us to bring our social approach to investing to more people around the world, and providing more people with safe and secure access to the markets.

“On top of this, as new technology continues to change finance, we want to remain at the forefront of that change. So today’s announcement will help us to continue our market leading work in blockchain research and the development of digital assets.”

eToro was founded in 2007 and now has a community of over 9 million users. In 2017, eToro received over $1bn in customer deposits and over one million new registrations in Q4 alone. This has led to a period of expansion for the business globally, including the opening of new offices and a drive to increase headcount.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<