By Daniel Lanyon on Friday 1 June 2018
The investment platform has seen a slew of new product launches and announced plans to head stateside in the past few months.
Global trading and investment platform eToro is planning to launch an Initial Public Offering (IPO) in the coming months, according to reporting from Financial News.
EToro which has become a dominant force in the heady world of investing in crypto assets, is reportedly in early stage discussions with a number of bankers and istituitonal investors.
A spokeswoman for eToro told AltFi that the firm "would not be commenting on any rumours".
Founded in 2007, eToro now has an investor base of more than 9m users, it says, and received over $1bn in customer deposits in 2017 alone. It also clocked up 1m new registrations in the last four months of 2017 alone. More recently it has annouced plans to head to the US market.
In March eToro closed its Series E fundraise at $100m led by a host of VCs and private equity firms including China Minsheng Financial, SBI Group, Korea Investment Partners and World Wide Invest among others.
Fintechs have been increasingly rumoured to be among a fleet of tech companies looking to launch IPOs in the coming year in the UK market.
Yoni Assia, CEO and founder of eToro, said at the time of the fundraise that the firm was gearing up for a period of major growth.
“eToro was built with the vision of democratising 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."
21 March 2023
Daniel Lanyon