Social trading and investment platform eToro has collected $100m for its Series E funding round to support market expansion.
China Minsheng Financial led the round, while participation also came from SBI Group, Korea Investment Partners, World Wide Invest and other backers.
Founded in 2007, eToro supports consumers with investing into traditional asset classes like stocks, commodities, currencies, and indices, as well as cryptocurrencies. The platform offers three routes for investing to support people of all experiences.
Users can manually pick opportunities from over 1,500 instruments in six asset classes. In-experienced traders can automatically copy trades of other investors. The final option allows consumers to use the company CopyFunds, which are investment portfolios split between top traders, market strategies, or third-party experts.
Top Trader CopyFund provides access to the same portfolios of best performing traders on the eToro platform. Market CopyFunds comprises of CFD stocks, commodities or ETFs under one, while the Partner CopyFunds offer portfolios from third party experts.
Last year, the company received more than $1bn in customer deposits and over one million new registrations in Q4 alone.
Proceeds from the round will be used to expand in to new markets as well as continuing the R&D of blockchain technology and the digitalisation of assets.
eToro CEO and founder Yoni Assia said, “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, and providing more people with safe and secure access to the markets.p>
The company joined the London Stock Exchange ELITE programme in 2015 and the private placement platform ELITE Club Deal supported the fundraise.
With this Series E funding round, eToro total equity injections has reached $162m, previously raising a $12m round in 2015.
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