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Trading platform eToro filed confidentially for a US IPO that could value the company at more than $5 billion, the Financial Times reported on Thursday
Israel-based eToro, which competes with Robinhood, told TechCrunch that it “does not comment on IPO rumors.”
The fintech had initially announced plans to go public via a SPAC at a valuation of $10.4 billion in 2021 before scrapping those plans in 2022. In March 2023, it is secured $250 million in financing at a valuation of $3.5 billion. Founded in 2007, eToro gives users a way to trade assets such as stocks, ETFs and crypto. A source told the FT that the company could formally list in New York from the second quarter.
After a calm and maybe encouraged by ServiceTitan’s public market success so far, more fintechs are taking steps to go public. Chime digital bank he submitted his confidential documents with the SEC in December.
