eToro, a leading social investment network, has announced on Monday that it had signed a multi-deal with CFR 1907 Cluj, a Romanian football club, by becoming its major partner. According to the Israeli company, the manoeuvre is part of its ‘commitment’ with the Romanian market, whose partnership includes adding eToro’s logo on the team’s shirt.
The football team is one of the oldest clubs in Romania and currently competes in the Liga I. CFR 1907 Cluj has won six titles of Liga I, two of Liga II, and seven of Liga III. “Romania is an important market for eToro, and through this partnership, we hope to raise awareness to more people of the potential to grow their wealth through investing. We will be working with the club to make the financial markets more accessible, to help bring fans closer to the action and educate them on investing,” Nir Smulewicz, VP Marketing of eToro, commented.
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As part of the plan, eToro seeks to offer free educational content to the club’s fans, as the company looks forward to strengthening ties with the community that supports CFR 1907 Cluj. “We are extremely pleased to announce that as of today, our club is moving to the next level, the CFR family is growing! Just as we have always aimed for first place and have never been satisfied with less, our partners have been and remain the best in their fields. eToro is a brand that needs no introduction, a global brand that has joined the CFR 1907 Cluj project on our way to success!” Marius Bilasco, Sports Manager CFR 1907 Cluj, said.
The social investment network has been active in the last few months to arrange deals with sports teams across the globe, mainly in the football sphere. At the end of June, eToro expanded its collaboration with AS Monaco, one of France’s most famous professional football clubs, through a multi-year deal.
Also, the last two announcements came in the wake of the platform posting positive numbers on its business. It added 3.1 million new clients in the first quarter of 2021, which is up from the 1 million users it onboarded in the same quarter in the prior year.