Breaking: eToro Raises $100 Million in Bid to Fund Blockchain Ventures
March 21 2018 - 1:06PM
ADVFN NewsWire
The company is now valued at $800 million, which plans to use
its money to finance an eastward expansion
eToro, the global social trading and investment platform,
announced today that it managed to raised $100 million in a venture
round.
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“We were working on this move for the last few months. Many
investors are interested in our growth, mostly thanks to our
aggressive penetration to the stocks and crypto markets.” said
eToro’s CEO and co-founder Yoni Assia in an exclusive comment to
Finance Magnates. “We believe in our ambitious vision and happy to
see such strategic investors who see the future in the same way,”
he added.
The funds raised will be used for various blockchain ventures,
further development of the company social trading platform as well
as an expansion to new markets. According to Assia, one of the
aforementioned blockchain projects is their own decentralized
crypto exchange, that he revealed In a recent interview given to Finance
Magnates.
The total amount of funds raised by the social trading provider
in eight funding rounds is $162 million. According to a publication
on the Israeli business daily Globes, the company, that saw
tremendous growth recently after adding cryptocurrencies to its
trading platform, is now valued at $800 million.
The funding round was led by China Minsheng Financial and was
participated in by SBI Group, Korea Investment Partners, World Wide
Invest and other investors. Rothschild also assisted the move and
acted as the exclusive financial adviser.
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