Social Trading Platform eToro Considers IPO

Voyager
Voyager

Tel Aviv-based social trading platform eToro is reportedly meeting with investment banks as it considers an initial public offering (IPO).

According to a Financial News London report that cites bankers familiar with the situation, eToro is currently in early-stage discussions with a number of London-based financial institutions about going public. While eToro has not yet made a public comment in response to the report, insiders share that the main subject matter of the discussions has been the current regulatory climate of cryptocurrencies, and how that climate might affect investor sentiment towards eToro.

This report comes just months after eToro closed a $100 funding round in March, where it announced that it planned to use the new capital to fund expansion into new markets. More recently, eToro confirmed that it plans to expand to the United States later this year, enabling U.S. citizens to trade on the company’s popular app for the first time.

During the company’s presentation at Consensus 2018,¬†CEO and founder¬†Yoni Assia¬†revealed that eToro aims to gain a significant¬†footprint in the U.S., which is largely dominated by other crypto trading platforms, including Coinbase, Circle¬†and Abra.

‚ÄúWe believe we are going to see trillions of dollars moving into crypto and blockchain assets, and as we are one of the largest players in Europe and expanding to Asia as well; it seems logical to also have a significant footprint in the U.S.‚ÄĚ

There is no indication to the timeline of the potential IPO, nor if eToro is in discussions with any investment banks familiar with the United States capital markets.
More: eToro approaches investment banks over IPO
Follow us: Telegram | Twitter | Newsletter
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts