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EToro
eToro Group Ltd. is an Israeli multi-asset investment and social trading company focused on providing financial services. eToro was founded in 2007 in Tel Aviv by Yoni Assia, Ronen Assia, and David Ring. The company's headquarters are located in Central Israel, with global offices in Cyprus, United Kingdom, United States, Australia, Germany and UAE. At the beginning of 2025, the company filed for Nasdaq (U.S.) listing and went public on May 14. In May 2025, eToro had 40 million registered users, and over 3.63 million funded accounts. In 2025, the company valuation was $5.64 billion.
eToro was founded as RetailFX in 2007 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. In 2010, the firm released the eToro OpenBook social investment platform. This included the copy trading feature, enabling users to replicate the trading strategies of top-performing investors automatically. Later that year, the firm released an Android app.
Between 2007 and 2013, the company raised $31.5 million across four funding rounds. By December 2014, it had secured an additional $27 million from Russian and Chinese investors.
In 2013, eToro expanded its product range, allowing investments in stocks and CFDs alongside commodities and currencies, with an initial offering of 110 stocks that later grew to over 3,000 financial products. The same year, it was authorized to provide services in the UK under its eToro UK subsidiary. By 2014, some referred to eToro as "Israel's biggest export." In January 2014, the company added cryptocurrencies to its available instruments, and later that year, it introduced currency futures investments for the Russian ruble and Chinese yuan.
In December 2017, eToro partnered with CoinDash to develop blockchain-based social trading. The following year, it raised $100 million in private funding, bringing total investment to over $162 million from various firms.
In March 2019, eToro acquired Danish blockchain company Firmo. In October 2019, eToro released a sentiment-based cryptocurrency portfolio that uses AI to assess Twitter's real-time sentiment on digital assets. Shortly after, in November 2019, eToro acquired Delta, a crypto portfolio tracking app based in Belgium. In March 2019, the company launched its cryptocurrency trading platform and standalone cryptocurrency wallet for US users.
Financially, 2020 proved a landmark year for eToro, with a 147% year-over-year growth, a 275% increase in funded accounts, and a gross revenue of $605 million. The company reported 1.2 million funded accounts, managed by a team of 1,100 employees worldwide. That year, eToro also acquired Marq Millions, its UK e-money division, rebranding it as eToro Money, and obtained Visa's primary membership along with an electronic money institution (EMI) license from the UK's Financial Conduct Authority. In December 2021, it launched the eToro Money debit card for UK residents. In 2021, the company reported operating in 140 countries and having 20 million users.
In March 2021, eToro announced plans to go public via a merger with FinTech Acquisition Corp V (NASDAQ:FTCV), a special-purpose acquisition company (SPAC) backed by former Bancorp CEO Betsy Z. Cohen. The combined entity was expected to operate as eToro Group Ltd with an implied enterprise value of $10.4 billion, supported by $650 million in funding from private investment funds. However, due to market instability and internal challenges within the SPAC, including "material weaknesses" in its financial controls, the deal was canceled by mid-2022. By that time, eToro had invested heavily in preparation for the IPO, contributing to a net loss of $265 million for 2021. Following the cancellation, eToro implemented cost-cutting measures, including laying off approximately 100 employees, or around 6% of its workforce, to stabilize its finances.
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EToro
eToro Group Ltd. is an Israeli multi-asset investment and social trading company focused on providing financial services. eToro was founded in 2007 in Tel Aviv by Yoni Assia, Ronen Assia, and David Ring. The company's headquarters are located in Central Israel, with global offices in Cyprus, United Kingdom, United States, Australia, Germany and UAE. At the beginning of 2025, the company filed for Nasdaq (U.S.) listing and went public on May 14. In May 2025, eToro had 40 million registered users, and over 3.63 million funded accounts. In 2025, the company valuation was $5.64 billion.
eToro was founded as RetailFX in 2007 in Tel Aviv, by brothers Yoni Assia and Ronen Assia together with David Ring. In 2010, the firm released the eToro OpenBook social investment platform. This included the copy trading feature, enabling users to replicate the trading strategies of top-performing investors automatically. Later that year, the firm released an Android app.
Between 2007 and 2013, the company raised $31.5 million across four funding rounds. By December 2014, it had secured an additional $27 million from Russian and Chinese investors.
In 2013, eToro expanded its product range, allowing investments in stocks and CFDs alongside commodities and currencies, with an initial offering of 110 stocks that later grew to over 3,000 financial products. The same year, it was authorized to provide services in the UK under its eToro UK subsidiary. By 2014, some referred to eToro as "Israel's biggest export." In January 2014, the company added cryptocurrencies to its available instruments, and later that year, it introduced currency futures investments for the Russian ruble and Chinese yuan.
In December 2017, eToro partnered with CoinDash to develop blockchain-based social trading. The following year, it raised $100 million in private funding, bringing total investment to over $162 million from various firms.
In March 2019, eToro acquired Danish blockchain company Firmo. In October 2019, eToro released a sentiment-based cryptocurrency portfolio that uses AI to assess Twitter's real-time sentiment on digital assets. Shortly after, in November 2019, eToro acquired Delta, a crypto portfolio tracking app based in Belgium. In March 2019, the company launched its cryptocurrency trading platform and standalone cryptocurrency wallet for US users.
Financially, 2020 proved a landmark year for eToro, with a 147% year-over-year growth, a 275% increase in funded accounts, and a gross revenue of $605 million. The company reported 1.2 million funded accounts, managed by a team of 1,100 employees worldwide. That year, eToro also acquired Marq Millions, its UK e-money division, rebranding it as eToro Money, and obtained Visa's primary membership along with an electronic money institution (EMI) license from the UK's Financial Conduct Authority. In December 2021, it launched the eToro Money debit card for UK residents. In 2021, the company reported operating in 140 countries and having 20 million users.
In March 2021, eToro announced plans to go public via a merger with FinTech Acquisition Corp V (NASDAQ:FTCV), a special-purpose acquisition company (SPAC) backed by former Bancorp CEO Betsy Z. Cohen. The combined entity was expected to operate as eToro Group Ltd with an implied enterprise value of $10.4 billion, supported by $650 million in funding from private investment funds. However, due to market instability and internal challenges within the SPAC, including "material weaknesses" in its financial controls, the deal was canceled by mid-2022. By that time, eToro had invested heavily in preparation for the IPO, contributing to a net loss of $265 million for 2021. Following the cancellation, eToro implemented cost-cutting measures, including laying off approximately 100 employees, or around 6% of its workforce, to stabilize its finances.