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The trading platform is aiming to raise up to $400m at a valuation of roughly $4.5b, nearly two years after shelving plans to go public via merger with a SPAC. Of note, eToro’s revenue surged to $12.6b in 2024, with 96% coming from crypto trading. It also posted a profit of $192.4m, up 1,160.7% from the year prior.
Founded in 2007 by Yoni and Ronen Assia, eToro allows users to trade assets including stocks, crypto and commodities, and to copy other traders' portfolios. The company’s IPO plans were revealed earlier this year through reports on a confidential filing with the SEC.
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