eToro raises $100m to support expansion
Written by Mark Evans
eToro, the social trading and investment platform, has announced a Series E fundraise of $100 million to support its expansion into new markets as well as its continued research and development of blockchain technology and the digitisation of assets.
Led by China Minsheng Financial, the round of funding was participated in by SBI Group, Korea Investment Partners, World Wide Invest and other investors. Rothschild acted as the exclusive financial adviser to eToro.
eToro was founded in 2007 and now has a community of over 9 million users. In 2017, eToro received over $1bn in customer deposits and over one million new registrations in Q4. The new investment brings the total capital raised by the business to $162 million and follows a period of significant growth for the business driven, in part, by demand for investments in the cryptocurrency market.