eToro, a Limassol, Cyprus- and London, UK-based social trading and investment platform, raised $100m in Series E funding.
The round – which brings the total capital raised to date to $162m – was led by China Minsheng Financial, with participation from SBI Group, Korea Investment Partners, World Wide Invest and other investors.
The company intends to use the funds to expand into new markets as well as to increase its research and development efforts of blockchain technology and the digitization of assets.
Founded in 2007 by Yoni Assia, CEO, eToro provides a social trading and investment platform that connects people with a community of 9 million users, with expertise in everything from investing in traditional asset classes like stocks, commodities, currencies and indices through to cryptocurrencies.
Through eToro, clients can manually invest in over 1,500 instruments across six different asset classes, can automatically copy the trades of other traders on the platform, and can use CopyFunds to access unique investment portfolios. Top Trader CopyFunds comprise the best performing and most sustainable traders on eToro, Market CopyFunds bundle together CFD stocks, commodities or ETFs under one chosen market strategy; and Partner CopyFunds offer portfolios from third party experts.
The company joined the London Stock Exchange’s ELITE program in 2015 and completed its capital raising with the support of ELITE Club Deal, London Stock Exchange Group’s private placement platform.