eToro Goes the SPAC Route
Posted on 03/16/2021
eToro Group Ltd. is a Bnei Brak, Israel-based no-fee trading app. eToro raised US$ 150 million in venture capital funding from investors like Spark Capital, China Minsheng Financial, SBI Holdings, Bracket Capital, Korea Investment Partners, DCG, Ping An Insurance, Anthemis Group, and CommerzVentures. eToro had US$ 605 million in revenue for 2020 and 18.7 million registered users. In 2013, Bitcoin was introduced in eToro. In 2016, eToro had 5.6 million registered users. eToro was founded in 2007 by Yoni Assia and Ronen Assia. In 2019, eToro launched zero commission stock trades. Upon closing of the transaction, the combined company will operate as eToro Group Ltd. and is expected to be listed on NASDAQ.
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