Customers for the company have reached 17 million, with 5 million additional customers added in 2020.
Trade volume for eToro has tripled since the beginning of 2020. The company differentiates itself with its Copytrader portfolio, which has tools that are offered for no additional charge.
Another positive sign for a potential deal to go public could be the company’s increased headcount. The company has over 1,100 employees now and is reportedly planning to hire hundreds more in 2021.
eToro has raised over $200 million in funding.
Rival Robinhood, which is also considering a 2021 IPO, has also seen an increase in users in 2020.
The company has 15 million users and was completing 4.3 million daily transactions on average during the summer months.