eToro, the world’s leading social investment network announced that it has secured an equity round from the leading Chinese venture capital firm Ping An Ventures, a VC under Ping An Insurance (Group) Company of China, Ltd., the largest non-state owned integrated financial services conglomerate in China and SBT Venture Capital, a fintech focused fund whose main partner is Russia’s largest bank, Sberbank.
eToro’s current investors, Spark Capital and BRM Group also participated in the round. The new financing also includes a credit facility from Silicon Valley Bank.
eToro is the world’s largest social investment network, with 4 million registered users in more than 140 countries, with thousands of new accounts opened each day. eToro leads the social trading revolution through its social investment network, which enables every investor to see, follow and automatically copy the actions of other investors in real time.
This new financing and strategic Investment will enable eToro to accelerate its rapid growth, generate opportunities for expansion into new regions including China and Russia and fast track the roll out of the expected product roadmap.
“We’re very excited to have two of the largest financial institutions in the world join our company as partners”, said Yoni Assia, CEO and Co-Founder of eToro. “We look forward to leveraging their deep industry knowledge and expertise with our disruptive vision and product. We share a vision to empower retail investors all over the world to trade and invest in a social and transparent way, and we’re proud to partner with two of the largest financial institutions in the world to lead this revolution”.
“When we initially invested in eToro, we saw how it would disrupt the financial markets with its innovative social trading approach,” said Spark Capital Co-Founder and General Partner Santo Politi. “We’re happy to see the company’s global potential is being embraced around the world.”
“eToro has become synonymous with financial innovation among members of Gen Y all over the world”, Says MirceaMihaescu, Managing Partner of of SBT Venture Capital. “Social Investment is changing the way people trade and invest as part of a revolution started by eToro and we are thrilled to partner with such a successful and promising company”.
“We are extremely impressed with eToro’s vision and the way its social investment platform enables access to global markets while connecting people from across the world”, Says Jiang ZHANG, Director of Ping An Ventures. “We are confident that this partnership will enable eToro quickly to expand its network in the fast-growing China market.”