eToro is an Israeli FinTech unicorn focused on social trading with a multi-asset brokerage platform (www.etoro.com). Allegedly, Goldman Sachs is evaluating an IPO on Nasdaq at a $5 billion valuation, Israeli Calcalist reports. Allegedly, it has been valued at about $2.5 billion in a recent share transaction with a U.S. institutional investor. Yoni Assia is the company’s CEO.Founded in 2007 by Yoni Assia, Ronen Assia, and David Ring in Tel Aviv, the company reported had 13 million registered clients worldwide as of May 2020. In the first 4 months of 2020, clients’ initial deposits increased by more than 400% over the same period. Apparently, the eToro business is booming and has not been involved in the fraudulent Israeli binary options industry or any of the myriads of FX scam scandals. Bravo! The FinTech employs some 1,100 people, with 700 of them in Israel. So far, eToro has raised more than $220 million from well-known investors including venture capitalist Chemi Peres, Ping An Insurance, and China Minsheng Financial.
- eToro (Europe) Ltd., is regulated by the Cyprus Securities Exchange Commission (CySEC);
- eToro (UK) Ltd, is regulated by the Financial Conduct Authority (FCA);
- eToro AUS Capital Pty Ltd. is authorized by the Australian Securities and Investments Commission (ASIC);