Mentioned:
One of the world’s most popular trading platforms is officially hitting the Wall Street. And their IPO is giving them hundreds of millions of dollars of new cash.
What’s happening:
- eToro (NASDAQ: ETOR) has successfully raised $620M USD in their IPO financing round and begun trading on the Nasdaq
- The IPO was led by Goldman Sachs, Jefferies, UBS and CitiGroup
Why it matters:
- eToro is one of the fastest growing trading platforms and brokerages globally and has risen to exceptional popularity with users specifically in Europe and the United Kingdom
Going deeper:
- eToro has also recently been scaling up in Australia, which has been largely fuelled by their acquisition of popular Australian investing app Spaceship for approximately $51M USD
- Publicly traded brokerages and trading platforms have been making a flurry of moves lately aimed at aggressive expansion, including Webull (NASDAQ: BULL) forming a new partnership with prediction market company Kalshi and Robinhood (NASDAQ: HOOD) just recently buying Canadian crypto company WonderFi
