eToro Co-Founder Hints at “Ambitious” M&A Possibilities

eToro (Nasdaq: ETOR) is ready for more ambitious merger and acquisition activity and has the cash to pursue deals, the company’s co-founder and executive director, Ronen Assia, confirmed to Bloomberg.

As of 30 June, the Israeli company had about $1.2 billion in cash and cash equivalents, and a cash position of $988 million without debt. The company’s financials are now public following its IPO earlier this year.

eToro’s M&A Ambitions

“We’re looking to do more ambitious stuff involving acquisitions,” Assia told the publication on the sidelines of the Ambrosetti Forum in Cernobbio, on the shores of Lake Como.

Founded in 2007, eToro has made several acquisitions over the years. Among the earliest were Denmark’s Firmo in 2019, a provider of tokenisation infrastructure, followed by Delta, a crypto portfolio tracker. The Israeli firm also bought FCA-regulated Marq Millions, later rebranded to eToro Money, and then Bullsheet, a portfolio analytics tool. The financial terms of these deals remain undisclosed.

In 2022–23, the fintech acquired US-based options broker Gatsby for $50 million in cash and stock, later integrating and rebranding it as eToro Options. The company also expanded into Australia by acquiring Spaceship, a local investing and superannuation app, for about $55 million.

Although eToro made its name through copy trading services, it now positions itself as a broader fintech and generates a significant share of revenue from crypto offerings. FinanceMagnates.com earlier reported that the Nasdaq-listed company netted $30 million on revenue of $207 million in the second quarter of 2025.

"We have a robust M&A pipeline," an eToro representative told FinanceMagnates.com. "We will maintain a disciplined approach and only proceed if a target passes our due-diligence process and meets business and financial criteria that can drive growth and profitability."

Hesitant on Prediction Markets

Despite diversifying, the company is not looking to enter prediction markets, which have attracted rivals such as Robinhood and Crypto.com.

“I personally don’t believe prediction markets are a long-term investment tool,” Assia said.

Prediction markets allow people to bet on binary outcomes of events, ranging from celebrity marriages to election results. Recently, some platforms have added sports wagering, arguing that these markets do not fall under existing gambling regulations.

While bookmakers set odds in conventional sports betting, prediction markets allow customers themselves to set the odds.

eToro, however, has followed rivals in offering 24-hour trading services and is also rolling out tokenised assets.