eToro is on its way to a Nasdaq IPO

Israeli fintech company, eToro, a social trading and multi-asset brokerage company, is on its way to an initial public offering on Nasdaq at a valuation of $5 billion. The company is currently in talks with investment bank Goldman Sachs regarding leading the IPO. The IPO is scheduled to be completed during…

the second quarter of 2021. eToro is set to join an ever-growing list of Israeli tech companies embarking on a U.S. IPO in the coming months, including ironSource, Monday.com, OrCam, Payoneer, REE, Taboola, and Outbrain. Similarly to some of those aforementioned companies, eToro is also examining the possibility of completing a SPAC (special-purpose acquisition company) merger in order to hasten its entrance to Wall Street.

eToro has developed a platform to manage investments for private investors, and has enjoyed a sharp increase in its value since the pandemic’s outbreak. The spike in valuation to as much as $2.5 billion was confirmed following the recent purchase of shares in the secondary market by a U.S. institutional investor at a sum of at least $50 million, with the unnamed U.S. firm purchasing shares from previous investors and employees.

Trading volume has tripled since the beginning of the year

eToro was founded in 2007 by brothers Ronen and Yoni Assia, with the latter currently serving as the company’s CEO. In an ironic twist, Israeli customers can’t trade using the eToro platform, as it doesn’t have approval from the local regulator. eToro has been recognized by regulatory authorities in the U.K, Australia, and Cyprus, and has gained in popularity in European and Asian countries.

The 2020 financial crisis turned young investors into one of the most significant players in the stock market, with the general public’s volume of trading rising from 10%-15% to over 20%. That has helped eToro enjoy an unprecedented year, recruiting five million new users, and…

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