eToro, the global trading and investing platform, has announced the acquisition of the Australian investing app Spaceship, valued at up to $80m AUD.
This strategic move is set to enhance eToro’s presence in the Australian market, a key region for the company, while also expanding its long-term savings and investing product range worldwide.
Spaceship, launched in 2017, has grown rapidly, boasting over 200,000 clients and managing more than $1.5bn AUD in funds. The company is renowned for its innovative superannuation funds through Spaceship Super, and its professionally managed investment portfolios under Spaceship Voyager. This acquisition is aligned with eToro’s goal to broaden its offerings globally, particularly in long-term savings.
eToro’s CEO and Co-founder, Yoni Assia, emphasized the shared vision of eToro and Spaceship in making investing universally accessible. “Spaceship and eToro share the goal of making investing accessible for everyone. Like us, they look to the future and we are excited to welcome their team and their clients into the eToro family. With almost two decades’ of experience building, innovating and serving clients around the world, I believe that together eToro and Spaceship can take our offering for Australian users to the next level,” Assia said.
Andrew Moore, CEO of Spaceship, highlighted the benefits of joining forces with eToro. “Joining forces with eToro is a pivotal moment for Spaceship, accelerating our momentum in Australia and unlocking new opportunities for growth. We’re deeply aligned with eToro’s goal of making investing accessible for everyone, and this partnership will enable us to reach new heights as we expand our product offering to customers, while continuing to provide top-tier value. Moreover, it offers our customers a promising opportunity to be part of a forward-looking company that aligns with our future ambitions,” Moore said.
The acquisition not only promises to enhance eToro’s product offerings but also ensures that Spaceship clients continue to enjoy the familiar brand. In the future, Spaceship clients will gain access to eToro’s extensive range of products, investment tools, and educational resources, while eToro users will benefit from Spaceship’s expertise in superannuation and managed funds.
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