The story
Founded by Yoni Assia in 2007, in Tel Aviv.1
eToro was founded as RetailFX in 2007 in Tel Aviv by brothers Yoni Assia and Ronen Assia together with David Ring. In 2010, the company launched eToro OpenBook, a social investment platform that included copy trading, allowing users to replicate the trading activity of other investors. Later that year, it released an Android app.
In 2013, eToro expanded its product range to include stock investments and CFDs alongside commodities and currencies. The same year, its UK subsidiary was authorized by the UK's Financial Conduct Authority. In 2014, eToro introduced Bitcoin trading and later added currency futures investments for the Russian ruble and Chinese yuan.
In 2017 and 2018, eToro expanded its cryptocurrency-related operations. In December 2017, it partnered with CoinDash to develop blockchain-based social trading, and in 2018 it opened a London trading desk for institutional clients interested in cryptoassets. The company also launched cryptocurrency wallets for Android and iOS in November 2018.
In 2019, eToro launched its cryptocurrency trading platform and standalone wallet for US users. The same year, it acquired Danish blockchain company Firmo and Belgian crypto portfolio tracking app Delta.
In 2020, eToro acquired Marq Millions, a UK e-money business, and rebranded it as eToro Money. It later launched the eToro Money debit card for UK residents. In 2021, the company reported having 20 million registered users in 140 countries.
In 2021, The Times of Israel covered eToro's connections with former Israeli financial regulators, including Shmuel Hauser, former chairman of the Israel Securities Authority, who joined eToro as an advisory board member. During Hauser's tenure at the ISA, proposed legislation aimed at Israel's binary options industry was modified in a way that allowed eToro to continue operating internationally, although eToro itself did not offer binary options. Hauser stepped down from the ISA in December 2017, more than a year before the end of his term, at a time when the regulator was involved in several high-profile anti-corruption investigations. Hedva Ber, former supervisor of banks at the Bank of Israel, was later appointed eToro's deputy CEO and global COO.
In October 2021, The Times of Israel reported that Nir Barkat, a Likud MK and former mayor of Jerusalem, had held shares in eToro through entities disclosed in the Pandora Papers. eToro was registered in the British Virgin Islands while most of its operations were based in Israel.
In July 2022, eToro laid off approximately 100 employees, or around 6% of its workforce. In August 2022, eToro acquired Gatsby, a fintech startup focused on options and stock trading. In October 2022, it acquired Lisbon-based portfolio management tools provider Bullsheet. In April 2023, eToro became a data partner for X's cashtags, supplying real-time prices for stocks, exchange-traded funds (ETFs), commodities and cryptocurrencies.
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In 2024, eToro expanded market access through partnerships with the London Stock Exchange, Dubai Financial Market and Deutsche Börse, and acquired Australian investing app Spaceship in a deal worth up to A$80 million.
In May 2025, eToro completed its initial public offering on the Nasdaq under the ticker symbol ETOR. In April 2026, eToro acquired crypto wallet provider Zengo for approximately $70 million.
In August 2026, eToro agreed to acquire US brokerage TradeZero in a cash-and-stock deal worth up to $231 million.
Funding and public listing
Between 2007 and 2012, eToro raised several early venture rounds. In 2007, the company raised $1.7 million in series A funding from Cubit Investments, Chemi Peres, and other investors. In March 2009, it raised $6.3 million in a series B round from BRM Group, Cubit Investments, and others. In June 2010, eToro raised $2.4 million in a third funding round led by Social Leverage. In March 2012, the company raised $15 million in a round led by Spark Capital, with participation from existing investors BRM, Guy Gamzu and Jonathan Kolber.
The company later raised larger growth rounds as it expanded internationally. In December 2014, eToro raised $27 million from Ping An Insurance and SBT Venture Capital, along with a credit facility from Silicon Valley Bank. In March 2018, it raised $100 million at an $800 million valuation in a round led by China Minsheng Financial, with participation from SBI Group, Korea Investment Partners and other investors.
In March 2021, eToro agreed to merge with FinTech Acquisition Corp. V, a special-purpose acquisition company backed by former Bancorp CEO Betsy Z. Cohen, in a transaction that valued eToro at about $10.4 billion. In December 2021, the terms were amended, lowering eToro's valuation to $8.8 billion and extending the deadline to complete the merger to June 2022, after the companies were unable to meet the original closing conditions, including SEC-related registration filings. In July 2022, eToro and FinTech Acquisition Corp. V terminated the merger agreement without a termination fee.
In March 2023, eToro raised $250 million at a $3.5 billion valuation, with investors including ION Group, Social Leverage, SoftBank and Spark Capital.
In May 2025, eToro completed its initial public offering on the Nasdaq. The offering was priced at $52 per share and raised about $620 million in total. The company received approximately $310 million from the sale of nearly 6 million shares. The company was valued at approximately $5.6 billion on its Nasdaq debut.
From Wikipedia’s article on EToro, shared under CC BY-SA 4.0.4