eToro Raises $100m To Support Global Expansion and the Development of Blockchain-backed Technologies
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Following from the recent news that they’ve added Neo and are working with Coindash to develop and design new cryptocurrency-related products, eToro has today announced that they’ve raised $100 million to support their global expansion and the development of blockchain-backed technologies
The latest round of funding was led by China Minsheng Financial, with participation from SBI Group, Korea Investment Partners, World Wide Invest and others. Rothschild also assisted in the fundraising efforts by being the exclusive financial advisor to eToro.
This new investment brings the total capital raised by the company to $162 million since their inception back in 2006. The company has been growing significantly, and this is in part thanks to the increase in demand for ways to invest in cryptocurrencies following recent mainstream interest.
Commenting on the latest round of funding, Yoni Assia, CEO, and founder of Etoro stated:
“This round of investment will be critical in helping us to further develop our technology infrastructure to support the rapid growth that we’ve recently experienced. It will also help us to enter new markets, enabling us to bring our social approach to investing to more people around the world, and providing more people with safe and secure access to the markets”.
He also touched on the fact that with technology always changing the world of finance, he wants to ensure that eToro is always at the forefront of that change. The new round of funding will help them remain on the cutting edge of the technological advances in the space.
“On top of this, as new technology continues to change finance, we want to remain at the forefront of that change. So today’s announcement will help us to continue our market-leading work in blockchain research and the development of digital assets.”
The social trading and investment platform, which has over 9 million users, was built with the vision of democratizing financial markets by making investments and trading accessible to everyone. This new announcement takes that to the next level and signals a new period of expansion and growth for the business.