eToro raises 100$m to Fund Blockchain Technologies

eToro raises 100$m to Fund Blockchain Technologies

Financial stories

The world’s foremost social trading and investment broker announced a $100 million ‘Series E’ fundraiser to help the broker expand into new markets as well as continue its research and development on Blockchain technology and further digitization of assets.

The funding was led by China Minsheng Financial; SBI Group, World Wide Invest, Korea Investment Partners and other investors also participated in the funding. Rothschild was the financial adviser in the proceedings.

Backed by ELITE Club Deal, London Stock Exchange Group’s private placement platform, eToro broker completed its capital raising. eToro has been a part of London Stock Exchange’s ELITE programme since 2015.  With the addition of the new investment, the capital standing of the business has been raised to $162 million, which translates to a significant growth to a business in part driven by demand for investments in the crypto-currency market.

eToro was built with the vision of democratizing financial markets by making trading and investing options available to all. Since eToro’s launch, they have seen a strong customer demand for their approach and the announcement is an important milestone in marking the success that they’ve had and signalling a new period of growth and expansion for their business;

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

As new technology continues to change finance, eToro want to remain at the forefront of that change. So the announcement will help eToro to continue their market-leading work in Blockchain research and the development of digital assets said Yoni Assia, CEO and founder of eToro in a statement addressing the fundraise.

In a period of ten years, from 2007 until 2017 eToro has built a community of over 9 million users, and has received over one billion in client deposits and new registrations of over a million in Q4 alone. All of the above has led to a period of substantial expansion for the broker globally which includes new office address and a drive to increase the company headcount.