Trading and investment platform eToro has raised $100 million in a Series E funding round, led by China Minsheng Financial with participation from SBI Group, Korea Investment Partners, World Wide Invest and others.
The funding round, which brings the total capital raised to $162 million, follows a period of significant growth for the company, which now boasts more than nine million users worldwide. eToro will use the new funding to support its global expansion and the research and development of blockchain technologies and the digitisation of assets.
In 2017, eToro received over $1 billion in customer deposits and more than one million new registrations in Q4 alone. As a result, the company has opened a number of new offices around the world, driving an increased headcount.
Yoni Assia, CEO and founder of eToro, commented: “eToro was built with the vision of democratising financial markets by making trading and investing accessible to all. Since launching, we've seen strong customer demand for our approach and today's announcement is an important milestone in marking the success that we've had and signalling a new period of growth and expansion for our business.
“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.”
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