After failing to go public in 2022 through a special purpose acquisition company (SPAC) merger, eToro has raised $250 million in funding at a $3.5 billion valuation. ION Group, SoftBank Vision Fund 2, Velvet Sea Ventures, and a few previous investors are among the participants in the round. As part of its proposed SPAC transaction, the company entered into an Advance Investment Agreement (AIA) in early 2021, which provided the funding. In 2022, eToro’s commissions totaled $631 million, a 49% decrease from 2021 and a 5% increase from 2020. According to its SPAC filing, revenue will amount to $2.5 billion by 2025.
eToro raises $250M after terminating SPAC deal
