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eToro to Conduct a Nasdaq $5B Valuation IPO in Q2 2021

eToro to Conduct a Nasdaq $5B Valuation IPO in Q2 2021
  • eToro is reportedly planning to conduct a $5 billion IPO on Nasdaq in 2021.
  • The company is in talks with Goldman Sachs Investment Bank, which is a candidate to lead the offering.
  • The Israel-based company has recruited 5 million new customers since the beginning of 2020. It also doubled its revenue to $ 500 million.

eToro, a multi-asset platform that gives traders and investors access to more than 2,000 different financial assets including cryptocurrencies, is reportedly planning to conduct a $5 billion IPO on Nasdaq in 2021.

Additionally, there are reports that the Israel-based company is in talks with Goldman Sachs Investment Bank. The bank is a candidate to lead the offering. Moreso, the IPO is scheduled to be completed by Q2 of 2021.

Apparently, eToro joins Israeli technology companies that aim to issue on Nasdaq in the next six months. Moreover, “eToro is also considering the possibility of a merger with a special purpose acquisition company for the purpose of accelerating entry into Wall Street trading,” the report said.

Notably, eToro has recruited 5 million new customers since Jan 2020. Following then, it has doubled its revenue to $ 500 million. Specifically, the company generates a significant portion of its revenue from cryptocurrency, alongside other assets.

The Israel fintech company surged in valuation when it came to light that a US-based institutional investor purchased $50 million worth of eToro shares at a $2.5 billion valuation from a secondary market.

eToro is a leading social trading platform for traditional investments like stocks, ETFs, CFDs, forex, and precious metals. However, it also provides crypto trading services.

Also, the company is a regulated crypto trading provider offering cryptocurrencies to investors. Particularly, it currently gives US customers access to 15 of the market’s most popular cryptocurrencies.

Details of the IPO are not yet confirmed. Furthermore, eToro has not officially issued a comment yet regarding the issue.

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