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 listing and went public on 14 May. 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.
History
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 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, a special-purpose acquisition company 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.
In August 2022, eToro signed a definitive agreement to acquire Gatsby, a fintech startup specializing in options and stock trading, for $50 million in cash and stock. In April 2023, the company announced a partnership with Twitter to allow users to click on ticker symbols preceded by a dollar sign, redirecting them to an eToro trading page.
In November 2022, eToro purchased a Lisbon-based portfolio management tools provider, Bullsheet, for an undisclosed sum.
In April 2023, eToro became a partner for X's cashtags, providing real-time asset prices for stocks, exchange-traded funds, commodities and cryptocurrencies.
In 2023, eToro completed a $250 million funding round that valued the company at $3.5 billion. However, eToro's financial performance in 2023 showed mixed results: eToro UK reported a 14% drop in net income and a 28% decrease in comprehensive income.
In October 2023, eToro announced partnership with iShares by BlackRock on the US Exchange-Traded Fund courses in equities and bonds.
In 2024, Yoni Assia disclosed eToro’s acquisition of a content automation company Deep.
In March 2024, the company announced that it is considering New York or London as potential venues for an initial public offering. In December 2024, eToro hired Goldman Sachs to lead its IPO in the United States, planned for 2025. In January 2025, eToro confidentially filed documents with the U.S. Securities and Exchange Commission, aiming for a valuation exceeding $5 billion.
In June 2024, eToro announced a financial education partnership with X for the UK, Germany, France, Italy, Spain, the UAE and the US markets. The same year, the company launched the eToro Academy.
In July 2024, eToro announced a partnership with the London Stock Exchange, aiming to add over 1,000 new UK stocks in the coming months. That month, it also collaborated with Bocconi University and joined the European FS Financial Services Tech Hub. In September 2024, eToro acquired the Australian app Spaceship for nearly $55 million.
In August 2024, eToro partnered with Dubai Financial Market, in September 2024 with Deutsche Börse for German stocks listed on the Frankfurt Stock Exchange, in October 2024 with ARK Invest to launch a technology-focused ETF portfolio. In November 2024, the company received a license to operate in New York.
On 24 March 2025, it was reported that eToro officially filed for an initial public offering in the United States. On 14 May, eToro completed its IPO and listed its shares on the Nasdaq under the ticker symbol "ETOR".
Operations
eToro's primary research and development office is based in Tel Aviv, Israel. Its other legal entities are registered in the UK, US, Australia, Germany, Cyprus and UAE. The company operates under regulatory oversight from several major authorities: CySEC in the EU, FCA in the UK, FinCEN in the United States, and ASIC in Australia. As of 2022, eToro maintained operations in 140 countries. In 2023, the company received an approval from Financial Services Regulatory Authority of ADGM to launch in the UAE and added ISA offering. The company operates in 75 countries and has 40 million users.In June 2022, eToro Ltd, a European subsidiary, was registered with the Autorité des marchés financiers as a digital asset service provider. In September 2023, eToro obtained its registration as a Crypto Asset Service Provider with the CySEC.
In July 2023, eToro secured approval from the Bank of Spain’s as a virtual currency exchange and electronic wallet custody service provider.
In February 2025, eToro Ltd received a permit from the CySEC to offer crypto services in the EU under the Markets in Crypto-Assets Regulation.
Marketing
eToro is known for substantial investments in marketing, which include sports sponsorships and traditional advertising. In 2020, eToro released a high-profile ad starring Alec Baldwin that quickly accumulated 3 million views on YouTube.In February 2022, eToro aired its first Super Bowl commercial during Super Bowl LVI, also dubbed the "Crypto Bowl." The 30-second ad, titled "Flying Your Way," featured a consumer seeking cryptocurrency advice while crypto enthusiasts descended from the sky, asking, "To the moon?" The commercial also highlighted a Shiba Inu dog, referencing the meme coin Shiba Inu, and included an appearance of a Bored Ape NFT, targeting a crypto-savvy audience.
As of 2024, eToro's sponsorship portfolio encompasses five English Premier League clubs, five Bundesliga teams, as well as the UK's Premiership Rugby Cup, Spain's Basketball Liga ACB, and Rugby Australia. In September 2024, eToro signed a two-year sponsorship agreement with Bayer 04 Leverkusen.