The broker raised $250 million last year at a $3.5 billion valuation.
In an earlier failed SPAC deal, the broker was looking at a valuation of $10.4 billion.
Israel’s eToro is again considering going public with a valuation of more than $3.5 billion, the brokerage’s CEO, Yoni Assia, told the Financial Times. In its previous failed attempt to go public, eToro signed a $10.4 billion deal with a blank check company, showing a massive valuation cut by the brokerage.
The US over the UK for IPO
While the broker is primarily operating in the United Kingdom, its strategic consideration of the United States for public listing is driven by the deep liquidity in the market. However, the broker has not ruled out London as the potential market for its public listing.
“Retail investors in the UK and Germany want to trade US stocks,” Assia told the publication. “We see that UK clients might trade also UK shares, but very few of our global clients would trade UK shares. Something in the US market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the US.”
Unlike the previous attempt, the broker now looks at an initial public offering (IPO). Despite Assia’s confirmation, the broker is yet to reveal any details.
A Strategic Time for the Public Listing
Headquartered in Israel, eToro has successfully expanded its operations into the European markets, generating 70 percent of its revenue from the continent. Founded in 2007, it initially made its name in the copy-trading space but has since diversified its offerings with stocks and cryptocurrencies.
The platform has about 3 million accounts and manages about $11.3 billion in customer assets.
eToro’s intention to go public was revealed in 2021 when the broker signed a deal with Betsy Cohen’s Special Purpose Acquisition Company. However, the deal fell apart in July 2022 as the two could not reach a closure agreement despite pushing the deadline multiple times.
Assia’s plan to take the company public is now fueled by the present market conditions at their peak. He is following the playbook of Robinhood that rode the tech frenzy in 2021 for a New York listing. However, the two companies have different priorities despite offering trading services.
“Unlike Robinhood, all their customers are US-based [and] they did a US IPO, our customers are mostly European, UK, Asian,” Assia said. “To give access to US IPOs in European markets is a very different infrastructure.”
Israel’s eToro is again considering going public with a valuation of more than $3.5 billion, the brokerage’s CEO, Yoni Assia, told the Financial Times. In its previous failed attempt to go public, eToro signed a $10.4 billion deal with a blank check company, showing a massive valuation cut by the brokerage.
The US over the UK for IPO
While the broker is primarily operating in the United Kingdom, its strategic consideration of the United States for public listing is driven by the deep liquidity in the market. However, the broker has not ruled out London as the potential market for its public listing.
“Retail investors in the UK and Germany want to trade US stocks,” Assia told the publication. “We see that UK clients might trade also UK shares, but very few of our global clients would trade UK shares. Something in the US market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the US.”
Unlike the previous attempt, the broker now looks at an initial public offering (IPO). Despite Assia’s confirmation, the broker is yet to reveal any details.
A Strategic Time for the Public Listing
Headquartered in Israel, eToro has successfully expanded its operations into the European markets, generating 70 percent of its revenue from the continent. Founded in 2007, it initially made its name in the copy-trading space but has since diversified its offerings with stocks and cryptocurrencies.
The platform has about 3 million accounts and manages about $11.3 billion in customer assets.
eToro’s intention to go public was revealed in 2021 when the broker signed a deal with Betsy Cohen’s Special Purpose Acquisition Company. However, the deal fell apart in July 2022 as the two could not reach a closure agreement despite pushing the deadline multiple times.
Assia’s plan to take the company public is now fueled by the present market conditions at their peak. He is following the playbook of Robinhood that rode the tech frenzy in 2021 for a New York listing. However, the two companies have different priorities despite offering trading services.
“Unlike Robinhood, all their customers are US-based [and] they did a US IPO, our customers are mostly European, UK, Asian,” Assia said. “To give access to US IPOs in European markets is a very different infrastructure.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FXCubic Integrates Devexperts' DXtrade to Enhance Broker Solutions
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa