The eToro trading platform has raised $250 million: it had not made a funding call since 2018. The news comes as the company has failed to enter the market. Scholarship in 2022.
Fundraising for the eToro platform
eToro announced this fundraising in a recent report. The contribution of 250 million dollars raises value of Israeli company to $3.5 billion. Among the entities that participated in the financing round are ION Groupe, SoftBank Vision Fund 2 and Velvet Sea Venture.
eToro should have gone public sometime last year, but it didn’t. The plan was to merge with a SPAC – that is, a company with no operational activity – which would have made it possible to create a new entity valued at 10 billion dollars. But since then, crises have followed one another in cryptocurrencies, and cryptocurrency prices have fallen. This merger was therefore cancelled.
But promises of investment had been made. A “Advanced investment agreement (AIA)was signed in 2021. This is a legal agreement, which obliges the signatories to invest in a company in the future. If the merger was therefore canceled, these agreements were still in progress, and they led to this $250 million funding.
👉 To go further – eToro Opinion and Tuto (2023): buy Bitcoin with the broker regulated in France
eToro: The platform that simplifies trading
The sign of an improving situation?
Yoni Assia, the CEO of eToro, pointed out that things had improved for the company at the start of 2023. Thanks, in particular, to an easing of the crisis situations in which the crypto ecosystem found itself:
“We saw a positive start to the year, with markets reacting favorably to “less bad” news. Individual exchanges on the platform also reached an all-time high.»
Another sign of this company’s progress: she was able to acquire two companies last year : the Gatsby trading app, as well as the Bullsheet social investment network. The platform, which is not exclusive to cryptos but remains very associated with them, therefore seems to be heading towards more peaceful quarters.
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Source: eToro, activity report
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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