eToro Triples Its Secondary Market Valuation to $2.5 Billion

The valuation of Israel-based brokerage has surged to over $2.5 billion in the secondary markets from merely $800 million in its  closed in 2018, Calcalist reported on Tuesday.
The valuation was confirmed by the publication as a US-based institutional investor purchased at least $50 million worth eToro shares from existing investors and former employees at a valuation of more than $2.5 billion.
However, the brokerage declined to confirm its secondary market valuation.
“eToro has experienced significant growth over the past year and has garnered a lot of interest from global investors,” eToro said in a statement. “The company doesn’t take an active role in secondary deals that are conducted from time to time by the company’s shareholders.”
Starting with $1.7 million seed money, eToro closed five funding rounds, raising $162 million in total.
A Multi-Asset Broker
Founded in 2007, eToro gained popularity as a social trading platform, offering new traders to copy the trading strategies of other experienced traders. Over the years, the brokerage has expanded its offerings into popular asset classes, including .
Similar to other brokerages, eToro benefited from the March volatility in the markets, which was triggered by the economic impact of COVID-19. Additionally, the broker revealed that it witnessed an influx of retail traders in 2020, and according to the latest figure, it has over 15 million trades on-board.
Meanwhile, eToro is spending millions on the promotion of its brand, especially with . In the current European football season, the broker signed sponsorship deals with .

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *