Posted on March 23, 2018 by staff

‘Social trading’ network secures $100m funding


‘Social trading’ network eToro has secured $100 million in funding.

The firm, which was founded in Tel Aviv, Israel and also has offices in London and Cyprus, allows users to copy the investment decisions of successful traders.

Funding for eToro’s Series E round was led by China Minsheng Financial include SBI Group, Korea Investment Partners and The World Wide Investment Company.

The firm has now raised more than $160m in total capital, according to Level39, which has provided office space to the firm since 2014.

Level39 in Canary Wharf is a community for finance, cyber security, retail and smart-city technology businesses.

The firm will use the capital raised to enter new markets and research blockchain technology. The firm are noted for recently including cryptocurrency trading within the app, allowing its users to trade in the likes of Bitcoin, Ethereum and Ripple.

eToro, which is now in its tenth year, has more than nine million users, and received over $1 billion in customer deposits in 2017.

Level39 also houses Clausematch, which last year raised £1.25m to scale globally.